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 titled ‘The Economic Implications of the Union Budget for 1971-72’ is authored by Professor Russi Jal Taraporevala and published in 1971. The author focuses on economic indicators like national income, agriculture, industry, inflation, etc, that influenced budgetary policy. He states that the budget signals resumption of inflation, increases direct, wealth taxes, inclusion of jewellery under taxable wealth, abolition of development rebate, reduction of tax exempt profits, and increased taxation for priority industries. He further predicts decline in individual savings, rise in inflation, and reduction in inequalities of wealth. He criticises the negative approach of the budget towards growth and planning.