diff --git a/gradle.properties b/gradle.properties
index 841d82b..5052fe4 100644
--- a/gradle.properties
+++ b/gradle.properties
@@ -13,7 +13,7 @@
 # limitations under the License.
 
 group=org.ballerinalang
-version=0.3.0-SNAPSHOT
+version=0.3.1-SNAPSHOT
 ballerinaLangVersion=2201.8.0-20230726-145300-b2bdf796
 org.gradle.caching=true
 org.gradle.parallel=true