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, “Impact of Taxation on Small and Medium Scale Industries” was published on January 6, 1958 and was authored by Murarji J Vaidya. He first defines the terms small and medium-scale, and goes on to describe their importance and impact in the Indian economy in terms of productivity, output, efficiency in utilisation of resources and employment. The most important characteristic of these industries according to the author is that the people who set up and are employed in this sector primarily come from a middle class background. The middle class is considered to be the most stabilising factor of any democratic society. The author then moves on to address the various problems and concerns facing the small and medium-scale enterprises and the prevailing government policies on the same, especially with regards to the taxation structure.