The Forum of Free Enterprise is 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 publishes booklets to further its objects. The following booklet titled, “Critical Issues Relating To Rising Prices” was published on August 7, 1995 and was authored by S. S. Bhandare. In this booklet, the author recalls the rising prices in India in the last over four and a half decades and talks about the phenomenon of relative price-stability. In addition to this, the author discusses a basic inflation-aversion of the Indian society and talks about demand-pull and cost-push factors to the Indian inflationary phenomenon. Moreover, the author talks about rapid increases in government expenditure, excessive money supply growth, income increases, population growth, changes in the pattern of economic distribution, black money generation, speculation and hoarding, and spread of consumerism. Then the article briefly discusses the two essential components of reforms launched in July 1991. Further, the author discusses ways to resolve the trade-off between growth and inflation, managing the revenue deficits, and focuses on issues such as urgency of raising savings ratio, productivity growth, wage goods availability and prices.