In August, Chidambaram had appointed a Committee headed by Vijay Kelkar to suggest ways to improve government finances.
Government on Tuesday made it clear that full float of rupee would be allowed only after putting in place a regulatory mechanism to ensure financial stability and creating congenial atmosphere like containing revenue and fiscal deficits.
The tax revenue during April-August was 24.89 per cent of the budget estimate of Rs 3,27,205 crore (Rs 3272.05 billion) while non-tax revenue was 32.9 per cent of the budget estimate of Rs 76,260 crore (Rs 762.6 billion) for 2006-07.
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