Question

Write a short note on New Economic Policy​

Answer 1

Answer:

New Economic Policy (NEP) was an economic policy introduced by Lenin after the failed methods of War communism. These New Economic Policies were to revive the Russian economy. The new policy was a combination of private enterprise and state socialism. This is because the people did not believe in War communism.

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Answer 2

Answer:

New Economic Policy refers to economic liberalisation or relaxation in the import tariffs, deregulation of markets or opening the markets for private and foreign players, and reduction of taxes to expand the economic wings of the country.

Explanation:

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