Mr. Bimal Jalan: Reforms not sufficient for growth
New Delhi: Mr. Bimal Jalan, governor of the Reserve Bank of India has sad that the country's fiscal management should improve along with the public delivery system for macro economic policies to yield permanent results.

Delivering the 16th B D Desmukh lecture on 'Indian economy in the 21st century: a new beginning or a false dawn", Mr Jalan said macro-policy reforms in itself will not be sustainable nor yield permanent results. Citing the experience of several transitional and emerging market economies, he said economic reforms were by no means a sufficient condition for growth and development.
He pointed out that it would be fallacious to think equate the need for economic reforms with lesser role for government or public policy in widening the opportunities and creating a positive environment for equitable development. On the scarcity of domestic capital, he said it was no longer a binding constraint because of international capital mobility since it ensured flow of global resources to countries that could show high growth and returns.
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Mr. Mathew Cadbury to head Cadbury India
Mumbai: Mr. Mathew Cadbury, development director of the Cadbury Schweppes group, is taking over as managing director of Cadbury India. He succeeds Mr Rajeev Bakshi, who will now to head the UK-based company’s South African operations as managing director. Mr Mathew Cadbury is the son of Sir Adrian Cadbury, former chairman of Cadbury UK and author of the renowned report on corporate governance.
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Mr. Ruchir Sharma new CIO at Morgan Stanley
Mumbai: Mr. Ruchir Sharma is taking over as chief investment officer (CIO) at Morgan Stanley Dean Witter Investment Management India (MSDWIM), replacing Mr Vinod Sethi who has resigned to pursue independent entrepreneurial opportunities.

Mr Sharma, who has served as executive director at the firm, has been an active member of the global emerging markets team since 1996. His responsibilities would include managing the Morgan Stanley Growth Fund. He would also continue to work closely with New York-based Robert Meyer, managing director and head of Emerging Market Equities, and his team.
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