The following booklet is titled, “Union Budget 1979-80 An Opportunity For Growth Missed” and it was published in 1979. This text is based on the lecture delivered by Mr. H. P. Ranina, the authority on taxation, under the auspices of the Forum of Free Enterprise in Bombay on 1st March 1979. The text serves as a primer to the Union Budget, detailing its important aspects and implications. Through his analysis of the budget, Mr. Ranina throws light on how the excise duty rates and other economic decisions can lead to the transfer of resources from the pockets of the poor and middle-class urban citizens to the pockets of the rural rich, and adversely affect the relationship between the rural and the urban population, possibly leading to a confrontation. The author discusses in great depth the other implications of the budget, their prospective impact on the economy and also draws attention to the areas of concern within the economic landscape of India.