The following booklet titled “Free Market Economy- Key to Economic Progress and Freedoms” was published in June 7, 1981, and was authored by M. A. Rangoonwala. The following text is the text of the inaugural address at the Silver Jubilee Celebrations Function of the Forum of Free Enterprise in Bombay on 12th January 1982. The author in the booklet explains the new targets that the economy should focus on and suggests an effective route to rapid economic growth- assuming that the aim is to encourage production, saving, investment and employment. The author also discussed different social- economic methods that the government uses to protect individual citizens in a socialst and centralised system. Rangoonwala specifically suggests particular methods for boosting the economy of the developing countries. Moreover, the author wants the framers of economic policies of India to stick to their thought process but release permits and licenses and make markets free-er to actually implement protection and revival.