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 for 1966-67’ is authored by Professor Russi Jal Taraporevala and is published in 1966. The author explores the economic background of the union budget and evaluates the third five-year plan with special reference to agriculture, industry, capital, and taxation. He assesses budgetary goals and budgetary goals and criticizes unjustified taxation, inflated excise duties, inconsistent tax rates and increased corporate taxes. He further analyses the budget on the basis of parameters like personal taxation, sales tax, annuity trends, unit trust, expenditure tax, gift tax, surtax, development rebate concessions, and financial institutions. He appreciates the Finance minister for abolishing bonus tax and recommends a fresh towards bonus issues, usage of depreciation while calculating property tax not used for business, and discarding of economic theories of budgetary and planning performance.