Nirmala Sitharaman, India’s Financial Minister, recently criticized millennials for their lack of economic engagement. According to him, the generation’s consumer habits are negatively effecting India’s GDP and economic prosperity.
Retorting this lofty accusation is Dean Chakravorti, who explains the socio-economic factors behind the generation’s changing behavior and subsequent economic woes. Millennial’s apprehension towards marriage, the popularity of the “sharing-economy” and downbeat employment statistics are just some of the forces causing this shift in consumerism. To strengthen India’s buckling economy, Chakravorti suggests that Sitharaman ask why the economy isn’t delivering the jobs, skills and better pay that Modi promised instead of making broad generalizations.