ECON 337 3 Assignment Example | Topics and Well Written Essays - 1250 words

ECON 337 3 - Assignment Example It emerges that the new reforms in the 80’s led to the reduction of poverty and inequality due to the foreign trade and investment strategies. However, the rural areas were also recovering from the poverty cycle as influenced by the spurt in agricultural growth. The political economy played an instrumental part through the land redistributions that ensured every family had an agricultural venture. As a result, the internal aspects enabled the country to improve on its economic objectives rather than the presumed global integration. Similarly, the domestic public investment policies, especially in education, infrastructure and agricultural research propelled the growth and rural poverty reduction. The state of poverty and well being in India were spurred by the social indicators in employment opportunities, gender inequality and maternal health had registered improvements (Bardhan 26). The country was ensuring that the citizens would be productive by taking advantage of the soc ial developments in the important sectors. The resultant impacts were that the Indians introduced strategies that empowered everyone to venture into economical businesses in the region. Although poverty and social well-being remains to be a priority of the government, the economic growth tends to alleviate the imbalance. This implies that reforms encouraging domestic investments are making the local citizens to come up with business ideas that the government can help to finance for prosperity. The reasoning behind Bardhan arguments is that global integration only facilitated increase in spending. The improvements in social indicators and social well-being were factors that promoted global integration because the country was now ready to consider various opportunities (Bardhan 30). This implies that, without the domestic reforms and investments, global integration could not be achieved. However, the slow pace in some sectors