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.