FDI in 2011-12 to be at record high: FinMin

India is expected to receive highest foreign direct investment (FDI) in 2011-12, a senior Finance Ministry official said today.

"This year the FDI is going to see a very big rebound and go up to a very comfortable level... And it should go up where we were [at the] record high," Chief Economic Adviser at the Ministry of Finance Kaushik Basu told reporters here.

In 2010-11, India attracted FDI worth $19.4 billion, a 25% dip over the previous fiscal.

Between 2000-2001 and 2010-11, the country received highest FDI of $27.32 billion in 2008-09.

On foreign institutional investments, Basu said FIIs are very difficult to forecast.

"They are so volatile that they keep changing," he said.

In its Economic Outlook for 2011-12 released yesterday, the Prime Minister's Economic Advisory Council PMEAC said that overall capital flows this fiscal were likely to rise in 2011-12, though it projected FIIs to register a sharp fall.