The Forum of Free Enterprise is a non-political organization founded in 1956 by A. D. Shroff, and has been established to educate public opinion in India on free enterprise and a democratic way of life. The Forum publishes booklets to further its objects. The following booklet is titled “Consumers of a State Monopoly: LIC Policyholders” written by Prof. L. G. Bapat. Prof. Bapat has taken the task of analysing the situation of the policyholders of LIC, in his analysis he has highlighted the huge amount of promises made by the then Finance Minister to the LIC policyholders that were never really kept. In this analysis of the case of LIC, Prof. Bapat has implicitly/explicitly shown the problem that lies with Public corporations working as a monopoly in absence of any sort of competition from private enterprise.