mar 1, 1921 - New Economic Policy(NEP)
Description:
The NEP was an economic policy that was introduced by the 10th Party Congress. The policy included measures that returned most of retail trade, agriculture, and smaller light industry to private ownership. However, the state held on to control over larger industry, banking, transportation, and foreign exchanges. In 1922, money was brought back into the economy, and peasants were able to have ownership over land and farm it, if they paid taxes to the state. The NEP helped the economy and the people to come back from years of struggling.
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