#BoycottMillennials trends on Twitter after Nirmala Sitharaman holds millennials responsible for auto sector slowdown

Must Read

President Ram Nath Kovind appoints new governor for Kerala, Telangana, Himachal Pradesh and Maharashtra

President Ram Nath Kovind appointed new governors for Maharashtra, Kerala, Telangana, Rajasthan, and Himachal Pradesh on Sunday. https://twitter.com/ANI/status/1168037199767457792 Former Union Minister Kalraj...

NRC list for Assam released; Fear looms as 19 lakh people face exclusion

NRC (National Register of Citizens) for Assam has been published at 10 am today. The final list excludes over...

Lateral Entry Era Begins as Union govt. appoints 9 professionals to Joint Secretary posts

The government has appointed its first batch of private professionals to the post of Joint Secretary in various ministries....
Digital Journalist (Specializing in Indian affairs & Contemporary Political development). A Writer by Profession. Administration Enthusiast by Passion. Altruist by Heart. That's enough about Me!

Union Finance Minister Nirmala Sitharaman expressed her views on the ongoing slowdown in the automobile sector in Chennai on Tuesday. Her comments led to the circulation of trending stories like that of #BoycottMillennials and others on twitter.

While talking on the issue of the slowdown in the auto sector, the minister said that the demand for automobiles is going down due to the changing mindset of millennials. Talking to the reporters in Chennai, the leader said, “The automobile and components industry has been affected by BS-VI (Bharat Stage VI) norms and the mindsets of millennial, who now prefer to have Ola and Uber rather than committing to buying an automobile.” (ANI)

Her comment has speculated a nation-wide debate on twitter on the issue of the mindsets of Millenials. As per the official estimates, Auto sales have been in bad condition for more than a year. August sales have fallen down by 31.57 percent, the worst in 22 years. A major reason for the falling demand can be attributed to the mandatory adoption of BS-VI regulations from April 1, 2020. This has also increased the fear among the existing users of BS-IV vehicle owners.

Previously, Uday Kotak (Chairman & Managing director of Kotak Mahindra Bank) has also warned the automobile industry to be aware of the ongoing major structural changes in the automobile sector. He was speaking at Society of Indian Automobile Manufacturers (SIAM) convention 2019.

Rising fuel prices and additional mandatory features in the car have also increased the prices of four-wheelers. This has further slashed down the rate of growth in the sector. Data from Indian Oil Corporation shows that fuel prices have witnessed a steady increase. It has risen by 15 percent from August 2015 to August 2019.

ALSO READ: Finance Minister announces “big-gun” reforms for Public sector banks


Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

R&D centre for clean coal unveiled in Bengaluru

Bengaluru, Sep 16 (IANS) Union Minister of Science and Technology Harsh Vardhan on Monday opened the national centre for...

RBI expands BBPS coverage to all categories

Mumbai, Sep 16 (IANS) The Reserve Bank of India on Monday expanded the Bharat Bill Payment System coverage to included all categories of billers,...

Wanted criminal held in Narela murder case

New Delhi, Sep 16 (IANS) With the arrest of 25-year-old history-sheeter, the Delhi Police claimed to have solved the Virender Maan murder case, who...

GM, TCS launch partnership for global vehicle engineering

New Delhi, Sep 16 (IANS) Automobile manufacturer General Motors and IT major Tata Consultancy Services on Monday entered into a partnership for future global...

Italy resuming a central role in Europe: EU Commissioner

Rome, Sep 16 (IANS/AKI) With its new left-leaning government, Italy, a founder member of the European Union, and the eurozone's third largest economy, is...
- Advertisement -

More Articles Like This