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, “Deficit Financing And Inflation” was published on May 11, 1967 and was authored by Prof. C. N. Vakil. The text urges the necessity for the Government at the Centre or in the States to take concerted action to remove the fundamental maladies in the economic situation in order to enable the economy to go forward. Then the author points out the most obvious sign of danger in an inflationary situation and that being the continuous rise of the price level. Further the author discusses the falling value of the rupee within the country in terms of foreign currency. The text also covers the principal remedies against inflation and suggests the revision of the system of taxation in Central and State governments. The author discusses the public expenditure of Centre and State in detail. In the, the author suggests the Government to work at cross purposes instead of a unified policy.