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 1974-75’ is authored by Professor Russi Jal Taraporewala and published in 1974. The author analyses the budget on the criteria of the national income, industrial production, employment, industrial investment, price behaviour, budgetary trends, balance of payments, money, credit, banking, plan outlays, wealth tax, and custom duties. The essay sheds light on the importance of monsoons for the Indian economy. He appreciates the bold move in reducing direct taxation and recommends incentivising individuals to invest in stock markets.