"NEP stimulated economic growth". Give three arguments in favour and against of this statement.
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Arguments in favour of this statement are:
- India has become a vibrant economy with the introduction of NEP.
- NEP led to considerable increase in foreign exchange reserves.
- NEP helped to control fiscal deficit.
- It led to urban concentration of growth process.
- This policy encouraged economic colonialism.
- This policy resulted in the spread of consumerism.
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