"Reform or Perish couldn't be more true than it is today," he said while inaugurating the two-day Happening Haryana Global Investor Summit here.

Investors are not philanthropists, they are business people, he said, adding, "if there is an environment of paralysis in a given state, policies are not reforming, the investor doesn't feel enthused enough to invest there."

He also said that states are increasingly becoming competitive with regard to attracting investments.

"I slightly deviated from the conventional phrase that was used about India being a country with co-operative federalism. And I had in the first few months itself started saying that in addition we are also a competitive federalism.

"The future lies there, because it's not merely the Centre-state relation, but states competing against each other in order to attract investments," he said.

The Finance Minister, who announced a host of steps to boost manufacturing and real estate sectors, said if there is an environment of paralysis in any state and policies are not reforming, then investors will not invest there.
    
Haryana has a more composite economy with a very large agricultural base, he said, adding the state has transformed itself into a manufacturing state over the last 30-40 years.

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