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a due recognition and respect. if we do so, more women and men would join the workforce. unemployment would be reduced and indian industry would become more competitive globally. 3. revive infrastructure investments and harness natural resources better much has been said about india ’ s infrastructure deficit and rightly so. india does not have sufficient roads, nor sufficient power. when i was growing up, i was taught that india is a land of poor, but is rich in resources. today we have made a giant leap in lowering poverty and still remain abundant in natural resources. yet, we have not learnt to optimally utilise them. take for example coal, which accounts for india ’ s 55 per cent of energy needs. we have hard coal reserves of around 246 billion tonnes, of which 92 billion tonnes are proven. yet, we are able to produce only 530 million tonnes of coal, leaving supply shortages of over 150 million tonnes. coal shortages are constraining our power generation and though about 55 gw of new capacity was created during the 11th five year plan ( fyp ), a large part of it remains unutilised due to coal shortages. private sector has failed to develop most of the new coal blocks that were allotted to them. we ended up with inadequate planning and poor execution in this area. we are now planning to create even more thermal power capacity during the 12th fyp, but remain unsure of coal supplies. at the same time, banks have heavily extended themselves into lending to power sector both on generation and distribution side. on the distribution side, the state distribution companies ( discoms ) are sitting on huge losses and bank debt that is threatening to go bad. the end result is a loss of business confidence that has brought the investment boom to a premature halt. what is most important in this context is to revive the confidence for investing and lending to the infrastructure sector. the government, in recent period, has taken several steps to facilitate this. the broad contours of the new fuel supply agreements ( fsas ) have been worked out, though some thorny issues such as price pooling of imported and domestic coal are still to be resolved. these pending issues must be solved quickly. similarly, a debt restructuring package for the discoms has been worked out. the private sector must seize the initiative and rekindle the schumpeterian spirit at this juncture. banks also need to perform their core banking business while balancing risk assessment with the functional need to support growth. we also