When will rupee become free float?

Any facts or intelligent guesses???????????

It's hard to predict what idiots in government will do but if it comes about then it may be through bold leadership or some sort of crisis or both; remember, it took a big crisis in 90s that almost forced India to give up on its almost dictatorial communist/socialist policies, which led to privatization, liberalization & opening up of the Indian economy, which has led to massive growth in the country, so big policy-changes often require dire situations.

Having said that, there has been some liberalization with how much people can send outside the country & invest (cash-basis); now currency-futures have also been permitted, which is an important development because governments always use the excuse of "protecting importers & exporters from currency-fluctuations" to control the currency (of course, the real reason for currency-controls is that they want to surreptitiously devalue the currency & thereby STEAL people's purchasing-power )

I think India's investor-community needs to push things a little, advantages of a free-floating currency need to be brought to light, including the fact that it will help strengthen the currency due to increased liquidity & willingness of foreigners to accept & hold it, it will invite more foreign-investment, make India more of a global-player & of course, that will allow India to buy oil & other foreign products cheaply & thereby help raise people's living-standards.