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Question
Write about Lenin’s New Economic Policy.
Solution
Lenin introduced a new Economic Policy which consisted of both privatisation and nationalism to some extent.
- Industry and property were allowed only to a limited extent.
- The policy caused a big increase in agriculture and industrial production.
- A greater area of land was brought under cultivation.
- Although private industries were allowed to form, they could buy and sell their products in the open market only to a small extent.
- Transport and external trade were kept under the total control of the government.
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