Political and social impact of new economic policy in india
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The New Economic Policy was an economic policy of Soviet Russia proposed by Vladimir Lenin in 1921 as a temporary expedient. Lenin characterized the NEP in 1922 as an economic system that would include "a free market and capitalism, both subject to state control", while socialized state enterprises would operate on "a profit basis".
The NEP represented a more market-oriented economic policy (deemed necessary after the Russian Civil War of 1918 to 1922) to foster the economy of the country, which had suffered severely since 1914. The Soviet authorities partially revoked the complete nationalization of industry (established during the period of War Communism of 1918 to 1921) and introduced a system of mixed economy which allowed private individuals to own small enterprises while the state continued to control banks, foreign trade, and large industries.
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The NEP represented a more market-oriented economic policy (deemed necessary after the Russian Civil War of 1918 to 1922) to foster the economy of the country, which had suffered severely since 1914. The Soviet authorities partially revoked the complete nationalization of industry (established during the period of War Communism of 1918 to 1921) and introduced a system of mixed economy which allowed private individuals to own small enterprises while the state continued to control banks, foreign trade, and large industries.
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