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 titled “Management of Transition” was published on October 14, 1993, and was authored by Viren J. Shah. the author begins by discussing the progress of economic reforms worldwide. He goes on to address what he calls the twin challenges of democracy and growth. He argues that economic transition around the world has been accompanied in most cases by strong demands for democratic reforms. He opines that though economic and political transition are related through a complex process, the effect one has on the other is indisputable. As a general rule, democracy and economic growth are compatible. He argues that the real challenge is to reconcile public entrepreneurship with democracy. Towards the end, he spells out certain macroeconomic suggestions like forging a domestic political consensus, prudently managing the budget, liberalising trade, inviting foreign investment etc. He suggests that the Parliament must consider enacting a Law of Economic Transition and create an Office of Economic Transition (OET) with statutory powers and obligations to pursue the reform process.