'Boycott Millenials': Twitter users have a field day after FM Sitharaman's remarks on auto slowdown

Social media platform Twitter was flooded with hashtag #BoycottMillenials on Wednesday after Finance Minister Nirmala Sitharaman's statement on the ongoing auto slowdown. FM Sitharaman, in a press conference on Tuesday, said the auto slump was due to many factors like the change in the mindset of millennials, who now prefer taxi aggregators like Ola and Uber instead of paying monthly instalments.

"Studies had revealed that there was a change in the the mindset of the millenials not to commit any EMIs (equated monthly installments) towards buying an automobile and instead taking OLA, UBER or the Metro (train) services," said Sitharaman.  Her statement didn't go well with the Twitterati, especially millennials, who took to social media to express their amusement to the FM's "bizarre" statement:

FMCG sales is low because millennials didn't brush and didn't use soaps to bath #SayItLikeNirmalaTai#BoycottMillennials

— RANGADURAI G (@RANGAINSTRO) September 11, 2019

Dish connections have reduced through out India because millenials prefer @PrimeVideoIN and @Netflix over sasural simar ka and yeh rishtha kya kehlatha hai #BoycottMillennials

— Dr.Sadiya Ameen (@AmeenSadiya) September 11, 2019

Yes Bank is going down because Millennials prefers HSBC#BoycottMillennials

— Vikas (@Youthiyapa) September 11, 2019

Clock industry is suffering in India because millennials are not ready to waste time. #BoycottMillennials#SayItLikeNirmalaTaihttps://t.co/jSBstRISMF

— Shireen (@shireenazam) September 11, 2019

TEA sales is down because Millennials want only Modi Ji ki CHAI. ☕☕😒

#SayItLikeNirmalaTai
#BoycottMillennials 😡😡

— Manisha Rajput (@manisharajput55) September 11, 2019

"Vikas" is not found because millennials prefer "Bakwas"#BoycottMillennials

— Anti-National/Urban-Naxal (@TheDissent) September 11, 2019

The Biscuit industry is down because nowadays everyone is drinking Tea with Cigarette #BoycottMillennials#SayItLikeNirmalaTai

— Mere Achhe Din Ayenge (@VotHardVotHard) September 11, 2019

On August 23, to address the auto sector crisis, Sitharaman had announced lifting the ban on purchase of vehicles by the government departments and allowed an additional 15 per cent depreciation benefit on vehicles to be acquired till March 2020.

The government clarified that BS-IV vehicles purchased up to March 2020 would remain operational for the entire period of registration, while also considering various measures, including scrappage policy, to boost the demand.

The auto industry in India is going through a major economic slowdown for several months. Carmakers have laid off thousands of employees, and some have temporarily halted their production to keep a cost in check.