M.R. Pai, Vice-President, Forum of Free Enterprise, Bombay inaugurated the first Rajaji Memorial Lecture on 5th December 1983 by talking on the subject of the Relevance of Rajaji’s Economic Thinking Today. Pai spoke about how freedom and democracy are essential for growth and development of a nation. Rajaji’s far-sighted economic policies and ideologies based on freedom are the way for quick economic prosperity and social stability. It would strengthen free society. In the light of economic events of the 1980s, it was clear that Rajaji’s economic philosophy was more relevant then than ever before.