What was an interesting feature of the New Economic Policy of Lenin?

Though the economic policies of Lenin were known to be based on Marxism and Communism, He still allowed private enterprises and has capitalist tendencies.

Further Explanation:

The Economic policy of the Soviet Union under Lenin represented a temporary retreat from the previous policies which were based on extreme socialism. The policy which was acquired by the previous government before Lenin was War commission and it had brought the national economy of the Soviet Union to the point of Total Breakdown.

When Vladimir Lenin came to power, he decided to retreat the economic policies of the country in order to maintain part’s stronghold throughout the country to keep the power. His measures of new Economic policies included retail trade, agriculture, and small scale light industry. He was in support of Private ownership and management but his focus was mainly on the heavy industry, banking sector and transport.

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Answer Details:

Grade: High School

Chapter: Economic Policies under Lenin

Subject: History

Keywords: Vladimir Lenin, Economic Policy, Private Ownership, Soviet Union, Agriculture, Retail Trade, transport, Growth.