Urban infrastructure is an 'engine of growth', says Jaitley

Union Finance Minister Arun Jaitley on Thursday termed urban infrastructure as an "engine of growth," adding that it is crucial for investment in the state of Uttar Pradesh.

Addressing the gathering at the Uttar Pradesh (UP) Investors' Summit here, Jaitley said any state possessing the capacity to build infrastructure employment and buzzing economic activity becomes an attractive destination for investors.

"I see a change in the agenda of the state. Social rebuilding will not spike economic activity; it is important for the state government to help spur infrastructure, employment, railway modernisation and connectivity. Skill development too is an important agenda for states to adopt, as this will provide a more sound skill set," he said.

Lauding Chief Minister Yogi Adityanath's leadership, Jaitley said the state government is on a mission to "rewrite the history of UP."

"I see a rise in Ease of Doing Business in the state, along with a vast improvement in the law and order situation. The chief minister has proved his mettle and shown the ability to take fast and difficult decisions for the state. There is a change in idiom, language and way of thinking under his leadership, thus making it attractive to investors. Furthermore, the reduction in corruption is also making UP an attractive investment destination," he said.

The two-day Summit was attended by at least 5,000 people including industry heads from India and abroad, Union Ministers, Chief Ministers, policy makers and academics, and aimed to further the cause of economic development in the state and attract investments.