Millenials' preference for Ola, Uber responsible for auto crisis, says FM Nirmala Sitharaman

Amid the worst slowdown in the Indian automobile sector, Finance Minister Nirmala Sitharaman stated that the decline in auto sales is not due to just higher tax rates, but because of change in people's mindset. She said that millenials' preference for cab hailing services like Ola and Uber over paying EMIs for new cars has affected the sales performance of the auto sector. Sitharaman was addressin…