FM Arun Jaitley’s message to states: Either reform or perish

GURGAON: Finance minister Arun Jaitley on Monday asked states to reform or perish in an environment of fierce ‘cooperative and competitive federalism’ as they compete to attract maximum investments.

“Investors do not like policy paralysis, and prefer destinations that offer more favourable business, and political environment... In addition to co-operative federalism, Indiaa has also become a competitive federalism,” Jaitley said at ‘Happening Haryana’ conference.

Complimenting Haryana state government for their resilience in the wake of recent law and of the 13 districts, Jaitley said “dark clouds are over”. The state recently witnessed Jat reservation protests, which led to loss of life and property.

Addressing investors, Jaitley said more and more states are organising investor summit in order to attract investments people in those states are at a disadvantageous state, and those who are offer more favourable economic, business and political environment to investors certainly are going to benefit,” he said.

The finance minister further told the investors that Haryana has demonstrated its ability to transform to the changing demands of people and economy.

While announcing a host of steps to boost manufacturing and real estate sectors, Jaitley pointed out that Haryana has had a smooth transition from primarily an agriculture-based state to manufacturing and automobile hub.

He asked the state to improve its road infrastructure to meet the industrial and real estate growth

Investors do not like policy paralysis and prefer destinations that offer more favourable business and political environment ARUN JAITLEY, finance minister