Write about Lenin's New Economic Policy.


1)       Lenin announced a New Economic Policy which consisted of both privatization and nationalization to some content.
2)       The private industry business and property were allowed to a limited extent only. The New Economic Policy (NEP) caused a big increase in the agriculture and industrial production.
3)       A greater area of land came under cultivation.
4)       To only a small extent the private industries were allowed to form.
5)       There industries were allowed to buy and sell their products in the open market.
6)       Transportation and extend trade were kept under a total control of the government.

7)       The New Economic Policy gave an incentive to the industrial production.