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 1981-82’ is authored by N.A. Palkhivala and published in 1981. He criticises the Budget as  psychologically perfect, politically clever, economically unsound, and strategically a costly failure. He states that inflation and foreign exchange position was not favourable. He mentions that income-tax exemption is to please the middle class but is an inadequate adjustment to inflation. The Budget increases taxes disproportionately, has no provision to increase industrial growth, and unjustified increase in custom duty, etc. He elaborates that social justice is not possible without economic growth. He highlights the flaws of the budget like failure to recognize infrastructural inadequacy, fast government and economy, complex direct tax laws,  no stability of fiscal laws, narrow outlook, and degradation of morals and standards.