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 Union Budget 1970-71” was published on April 15, 1970 and was authored by Nani A Palkhivala. In this booklet Mr. Palkhivala examines the union budget for the fiscal year 1970-71. He argues that the annual budget is essentially fiscal oppression, and points out that ‘pre-budget techniques’ are used to make the general populace conform unquestioningly. He evaluates the proposed objectives of the budget and the sectoral implications of the same. In conclusion, he argues that the problem of brain drain that the country faces is basically due to the centrally sponsored fiscal mismanagement.