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 is titled “The Union Budget 1974-75” and is converted to text from a public lecture delivered by N. A. Palkhivala on the union budget of 1974-75. The speaker/author has provided a succinct analysis, with references to the general principles keeping in mind the specific situation at hand then. It is devoid of any such use of language that disinterests the reader to read further.