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, “Federal Financial Relations in India ” was published in 1968 and was authored by K. Santhanam. The author focused on the financial relations between the Centre and the Units and categorized them as the problems existent in a federation. He further provided studies on the relations between the two through the Indian constitutional purview. Following this, he shed light on the direction on how loans by the Union Government should not be given to the States and instead focused on the form of balance through the borrowing of money from the reserve banks subject to limits by the central government. And lastly hoped for a better approach in collectivizing better relations in terms of finance between the Centre and the States.