India maintains respectable growth rate amid global economic slowdown: Jaitley

Finance Minister Arun Jaitley has said, India has maintained a respectable growth rate amid global economic slowdown. Inaugurating the two-day Happening Haryana Global Investor Summit in Gurgaon yesterday, he said the investors across the globe are looking at India because of higher economic growth, larger market and wider base of human resource.

Asking states to reform or perish, Mr. Jaitley said, India's future lies in competitive federalism. He said, the federalism is not merely the Centre-state relation, but also the states



competing against each other in order to attract investments. 

The Finance Minister, who announced a host of steps to boost manufacturing and real estate sectors, maintained, if there is an environment of paralysis in any state and policies are not reforming, then investors will not invest there.

Mr. Jaitley lauded Haryana for transforming itself into a manufacturing state from having a large agricultural base earlier. He said, Haryana is also growing into an important service sector economy.