During an economic downturn, typically accompanied by a severe demand slump and job losses, the easiest mistake a government can make is not to acknowledge the problem. By playing down the issue, such governments only delay the much-needed solutions for the problem. It will then need to find a bigger justification for the worsened scenario. In the context of the auto sector slowdown and the government’s approach towards it, this is precisely what Union Finance Minister Nirmala Sitharaman is doing right now.
Addressing reporters in Chennai, Sitharaman said the mindsets of millennials were adversely affecting the automobile industry as they prefer to use radio taxi services instead of buying their own vehicle. Here’s is what Sitharaman said:
“Automobile sector, in particular, has been affected by several things. These include BS6 (Bharat Stage 6) movement, the registration fee issue that has been deferred till June and the mindset of millennials, who are now preferring not to commit EMIs to buy automobiles but prefer to use Ola or Uber or take the metro.”
Finance Minister Nirmala Sitharaman: Automobile industry is now affected by BS6 and the mindsets of millennial, who now prefer to have Ola or Uber rather than committing to buying an automobile pic.twitter.com/6KEecyopH3— ANI (@ANI) September 10, 2019
The problem is that every slowdown is accompanied by job losses. The case is no different now as well. About 3.5 lakhs jobs have been lost so far in the auto and component industry alone. The millennial mindset or Ola/Uber cannot be certain blamed for this debacle.
Automobile sector is facing a slowdown because people are riding skateboards now. #SayItLikeNirmalaTai— Shashank 38 (@LiberalHermes) September 10, 2019
#BoycottMillennials FM things🤣— Pradeep Goud Macharla (@Macharlazz) September 11, 2019
Automobiles🚘⬇️: Millennials prefer Ola and Uber
Water Crisis💦: Millennials drinking more water
Real estate 🏗⬇️: Millennials using Oyo and Airbnb
Air traffic✈⬇️: Millennials video call than travel
Rupee fall ₹ ⬇️: Millennials use Bitcoin
There is a fall in agricultural sector because millennials prefer pizza instead of daal roti— Vibhash Mishra (@AapVibhash) September 10, 2019
– Nirmala Sitaraman#Boycottmillennial
Parle G sales are down because people eat Oreo now #SayItLikeNirmalaTai— Aadwitya (@Aadwitya2) September 11, 2019
Food sector is down because millennials are dieting #sayitlikenirmalatai— Asad Gaur (@asadgaur) September 10, 2019
The millennials have got no chill, so icecream industry is crashing. #BoycottMillennials— Rofl Gandhi 2.0 (@RoflGandhi_) September 10, 2019
Vegetable sales are down because everyone is having "chicken dinner"#SayItLikeNirmalaTai— Arya (@thecuriouself) September 10, 2019
Tourism is down because people are seeing photos and videos of places online.#SayItLikeNirmalaTai— Vidyut (@Vidyut) September 10, 2019
Unemployment is increasing because millennials don't like to wake up early in the morning. #SayItLikeNirmalaTai— Abhijeet Dipke (@abhijeet_dipke) September 10, 2019
However, this statement did not go down so well with the millennials and they expressed their views by starting hashtags like #SayItLikeNirmala and #BoycottMillennials began trending on social media. Have a look.