Govinda will be discharged from a hospital here on Friday, four days after the actor was injured in the leg when his revolver accidentally went off, his family said.
The 60-year-old actor underwent a surgery on Tuesday and is recuperating at a private hospital.
Sharing a health update with the reporters, Govinda's daughter Tina Ahuja said, "He is better. He is getting discharged today."
The actor's wife, Sunita Ahuja, also told reporters that Govinda has been advised to rest for at least six weeks.
"He will be discharged today. I will bring him here but he will have difficulty to stand... He is fine and will start dancing again in a few days. Everyone has prayed for him and we have the blessings of Mata rani," she said.
"At home, the doctor has told him to remain on bed rest for six weeks. So, we will not allow many people because he could get infected. So, he needs to res," she added.
Govinda, known for films such as "Love 86", "Swarg", "Dulhe Raja" and "Partner", was injured in the leg on Tuesday after his revolver accidentally went off at his Mumbai residence when he was about to leave for the airport.
While the local police have been conducting an investigation, the Mumbai crime branch has also initiated a parallel enquiry into the incident.
No complaint has been lodged in the matter so far, police said.
Dr Ramesh Agarwal, who tended to the actor after the accident, said the bullet hit him below his left knee and that he had got 8-10 stitches.
Govinda, a favourite with audiences for his impeccable comic timing and dancing skills, later issued a statement informing his fans he is doing better.
"With the blessings of my fans, my parents and god, I am doing better now. I was hit by a bullet, which has now been removed," the "Hero No 1" actor and a member of the Eknath Shinde-led Shiv Sena said in the audio message.