Novelty means original or new. so the economic policy that was put forward by Lenin was an new policy that helped i eradication of all the eco-social problems faced earlier.
The New Economic Policy (NEP) was introduced to replace the failed policy of War Communism. Under War Communism, Lenin employed the communist belief that everybody had the right to a job and people were employed regardless of whether they were actually needed or not.so, this lead to increased Employment rates. The NEP brought some form of economic sense back to Russia’s economy. Trade was to operate on an economic and commercial accounting basis.