The Forum of Free Enterprise was 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 published booklets to further its objects. The following booklet titled, “New pattern of taxation in India,” was published in 1959. In order to help develop a pattern of Independent thinking, an essay competition was organized back then. The winning entries were published in the booklet. Through this, a fresh perspective was envisioned towards the problem of taxation. The first winning entry was by, “R.S Sivaramakrishnan of Christian College, Madras” The writer highlighted three dominant features determining taxation policies. He further emphasized that the stimulation of the economy and social motivation is best at the state level in developing economies and theory accentuated the evaluation of a tax system on a similar basis. The second entry was by, “E.S Ganesh of Jamshedpur Co-operative College, Jamshedpur.” The writer focused on the distinguishing features of a Sound Tax Policy. He highlighted the importance of such a policy in effectuating social justice and economic stability. He further emphasized having a scientific and rational tax structure as an integral part of a developing economy. The third entry was by, “M.V Nadkarni of Karnatak College, Dhanvar.” The writer focused on the new tax pattern and the guidelines it followed incoherence to the second five-year plan. He highlighted the tax pattern was not appropriate in aspects of capital formation and investments. The writer concluded by pitching in measures that can be undertaken by the then government without affecting industrial development.
The booklet thereby stimulated public opinion on economic issues facing India then.