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 2000-2001” was published in April 2000, and was authored by H.P. Ranina. This booklet is the textual representation of a talk delivered by the author in Mumbai on 2nd March 2000. The author talks about the missed opportunity for second generations reforms. The author discusses Proposals affecting individuals, Business reorganization, Minimum alternate tax, and Higher tax on distributed profits. The author concludes with the view that the budget has done well on the social development front, but on the macro-economic front, this budget leaves much to be desired.