Deputy Chairman of Planning Commission Mr. Montek Singh Ahluwalia said that country’s financial condition will get stabilized in the coming six months, and foreign investors will return to India as the global market is recovering.

According to Mr. Ahluwalia, there has been a pick-up in credit growth and foreign capital inflows are expected to rise in the coming months.

He said that there the capital flows into the country would not be adversely affected, and India would still retain its position of fastest growing country among the developing countries.

The Planning Commission, earlier this month, had forecasted a 6.3 per cent economic growth for financial year 2009-10. It had also predicted a worst-case situation, which said that economic growth could decrease to 5.5 per cent in case bad monsoon cause the farm output to decrease considerably.

India’s economic growth was down to 6.7 percent in 2008-09 as against 9 per cent growth clocked during the last three financials.

According to last week’s data revealed by planning commission, Foreign Direct Investment (FDI) for the first four months of 2009/10 (April-March) was $10.5 billion, which was about 15 per cent down for the corresponding period last year.