Economists talk about the importance of investment climate in generating growth. They talk of reducing the transaction cost of doing business which essentially translates into having a few regulations which are enforced effectively and efficiently. We forget the other pertinent aspect of a good investment climate, i.e., the ease of living in our cities and towns. One can reduce the transaction cost of doing business to zero, but growth cannot take place if you have cities in which you can’t move from one place to another, where sewage is returned untreated into water bodies, and where sanitary conditions are abysmal.