The Forum of Free Enterprise was a non-political organization founded in 1956 by A. D. Shroff and was established to educate public opinion in India on free enterprise and a democratic way of life. The Forum published booklets to further its objects. The following booklet titled “An Analysis Of Budget Proposals (1963-64)” was published on February 15, 1963 and was authored by N.A. Palkhivala where he reviews the Union Budget for the FY 1963-34. He talks about the rates of taxation on companies and individuals and gives the example of Japan as it lowered tax rates and their economy is buoyant and gave boost to investment and production with low taxes. The author criticises the super profits tax of the Budget Proposal and points out some of the grave objections to the super profits tax in detail. Then the author suggests some must requirements that are needed to make the impost bearable. At the end, the author says that this Budget proposes an unprecedented and unbearable burden on the nation.