FM Blames Youth For Slow Down of Auto Industry

In 11th September 2019, Finance Minister Nirmala Sitharaman at a press conference said that, the automobile industry in Inidia is facing severe financial problems. Automobile industries are firing employees as they are unable to pay their salaries. People are finding it difficult to find jobs as well. The Finance Minister said that this is the youth’s fault as they are not buying new cars. Instead the youth prefer Ola and Ubers. The youth avoid buying car as they are afraid to pay EMIs. Because of the youth, the Automobile Industry is suffering. The youth in India could not stop laughing at this. They completely disagree with the Finance Minister’s statement. The youth created funny memes about her. These have gone viral all over social media. Youngsters say that the problems in the automobile industry are not because of the youth. It is because of the economy. If the youth want to buy a new car they have to think twice. They can’t just go and buy a car. You all know that it has become very difficult to find a job in factories or companies. They can not afford EMIs in their salaries. Another point is GST. The high GST rate, is the reason why the sale of automobiles has reduced. Youngsters prefer OLA, Uber and public transport, as you all know about the bad traffic in Indian cities. They do not want to be stuck in that situation. The amended motor vehicle laws impose heavy fines compared to the nominal fines earlier. They are not ready to pay such hefty fines. They rather avoid buying cars and opt for OLA, Ubers and public transport. This saves time as well. People can book OLA and Uber at any place and at any time. It is safe as well.

About the Author: Michael Flood

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