question archive 1)What disturbs economists most about US economic policy? 2)How did "The New Economic Policy, 1921" proposed by Lenin influence the policies adopted by India soon after independence? 3)How would economists rate the economic policies of the first year of Narendra Modi's government? Is it any different from that of the UPA?
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1)What disturbs economists most about US economic policy?
2)How did "The New Economic Policy, 1921" proposed by Lenin influence the policies adopted by India soon after independence?
3)How would economists rate the economic policies of the first year of Narendra Modi's government? Is it any different from that of the UPA?
1)The most disturbing factor about the US economic policy is how US decision-makers trust that the US dollar will always remain the worlds only reserve currency, and they can therefore always depend on it's reacting opposite to the natural trend of the world economy.
2)Vladimir Lenin developed an economic policy to address rapid communism. His new plans infused state capitalism, introducing a mixed economy. Lenin's policies allowed ownership of small enterprise by private individuals while foreign trade, banks, and large companies to remain under the state.
After India gained independence, it projected a mixed economy with private sectors complementing public sectors. There was fast development of industries that dealt with capital goods in public sector. Also small industries flourished by producing consumer goods that were free from state intervention.
Lenin policies also influenced the agrarian front. There was a vast network of for extending agricultural activities, land reforms, tenancy reforms and dissolving zamindari system.
The state supervised the development of industries to ensure that they were operating according to plan; this saw s distribution of activities between the public sector and the private sector to prevent development of monopoly. The move also protected small companies and promoted a regional balance just like Lenin's New Economic Policy did.
3)There were the economic policies of the first year of Narendra Modi's government such that the government has taken initiative for the welfare of poor people and some are present in the current period, Interest rate is very low so that the investor can invest in the country and industries will get a boost from it, Initiative of Programme of Make in India has done a lot of things in India such as the foreign investor has hub in the manufacturing sector and there is more confidence from foreign investor which are helping to develop the road map by the current government. UPA government did not take the action to develop India.