Question
New Economic Policy
Answer :
Word Count : 541
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The New Economic Policy (NEP) was introduced by Vladimir Lenin in Soviet Russia in 1921 as a temporary economic strategy to overcome the severe crisis created by the Russian Revolution, Civil War and War Communism. It marked a significant shift from the rigid policies of War Communism towards a limited acceptance of market mechanisms while retaining state control over the commanding heights of the economy. After the Bolshevik Revolution of 1917, the government introduced War Communism to ensure the supply of food and resources to the Red Army and the cities. The state nationalised industries, prohibited private trade and requisitioned agricultural surplus from peasants. Although these measures helped the Bolsheviks during the Civil War, they caused widespread economic disruption.
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