The Forum of Free Enterprise was a non-political organization founded in 1956 by A.D Shroff and was established to educate public opinion in India on free enterprise and a democratic way of life. The Forum published booklets to further its objects. The following booklet titled, “Economic growth requires reform of tax structure,” was published in 1962 and was authored by Prof. R.J Taraporevala. The author shed light on tax policies as being a tool of both economic and political endeavors. He focused on how the second-year plan did not project a steady increase in the rate of savings and investments, which is why the objective of the tax policy needs to accrue the growth of savings and investment. He further focused on the maximization of economic development through the balance of private and public sectorial growth. Mr. Taraporevala highlighted several objectives of the way the Tax policy needs to be drafted and put forth his own contention after that. The author emphasized the restructuring of the direct tax structure. The author lastly accentuated on introducing reforms in alliance with long term goals instead of short term changes. He shed light upon this as India had already faced havoc in the capital markets in 1957-58 when the government kept introducing new changes consequently back then.