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 “Wanchoo Committee Report on Black Money”, written by H. P. Ranina taken from his column in the “Financial Express”. The text is a brief appraisal of the Wanchoo Committee Report, which was aimed at finding the root causes of tax evasion and proliferation of black money. The author lauds the committee report in correctly identifying the causes of these problems and also suggests that the nation can only solve these problems by implementing the recommendations of the committee as a long term solution. The author does not assess the committee report on the basis of its calculations, since the accuracy of calculation is difficult to estimate. Towards the concluding end, the author suggests implementation of the committee’s suggestion in order to “mitigate the magnitude of tax evasion” and gives a wake up call to the government for creating a “positive disincentive” for those who contribute in the “creation of black money.” The author highlights the inevitability of the “reduction of tax rates” in order to achieve the previously mentioned goals on reducing the extent of tax evasion and the cutting down the production of black money.