Question

State two provision of Lenin's new economic policy?

Answer 1

Answer:

The new economic policy of India reforms and liberated by the government of India.

The measures that are adopted are as follows:

• The progressive lowering of the taxes, duties and tariffs.

• Regulations of the governing foreign investment that allow the inflow of the funds that goes to the country through institutional investors.

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Explanation:

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Answer 2

In order to broaden the economic horizons of the nation, the New Economic Policy refers to economic liberalisation or a lowering of import tariffs, market deregulation or opening up to private and foreign actors, and tax reduction.

• The primary goal was to force the Indian economy into the "Globalization" sphere and to give it a fresh focus on market orientation.

• The NEP aimed to lower the inflation rate.

• It aimed to increase economic growth and accumulate enough foreign exchange reserves.

• It sought to remove all kinds of unnecessary limitations in order to achieve economic stabilization and transform the economy into a market economy.

• It aimed to allow free international trade in products, services, money, people, and technological advancements.

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