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What were the main features of the socialist economy which began to be built in Russia after the revolution in 1917 ?

Main features of the Socialist economy which began to be built in Russia after the revolution in 1917 are as follows :

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  • Confiscation of the estates and distribu­tion of land among peasants. The Russian Govern­ment finished the Zamindari System.
  • Evolution of a classless society and end of economic exploitation by capitalists and landlords.
  • Control of industry by the State’s economic planning for development.
  • Right to work according to capacity and development of each individual became an important aim for all.

The new economic policy made Russia a great power in the world.

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