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 “The Economic Implications of the Union Budget 1970-71” was published on March 15, 1970 and was authored by Prof. Russi Jal Taraporevala. Prof. Taraporevala examines the economic conditions of the preceding year to contextualize his analysis of the union budget of 1970-71. He states the proposals of the budget and examines each on its own merits. He looks at various aspects of the budget including direct taxation, corporate taxation, agricultural taxes, taxes on food items and so on. He concludes by stating that despite the soundness of the policy on paper, the tax rise has been quite harsh and that such a policy is not very sustainable over the long term.