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UPSC 1997: The average rate of domestic savings (gross) for the Indian economy is currently estimated to be in the range of
(a)15 to 20 per cent
(b)20 to 25 per cent
(c)25 to 30 per cent
(d)30 to 35 per cent
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Not attemptedCorrect Answer: (b) 20 to 25 per cent
Economic-Survey data for the mid-1990s show India’s gross domestic saving at 22.5 % (1993-94), 25.0 % (1994-95) and 25.5 % (1995-96), averaging in the low-to-mid-20s; hence the official description in 1997 placed the ‘current’ savings rate in the 20–25 % band. ([indiabudget.gov.in](https://www.indiabudget.gov.in/budget_archive/es99-2000/table14.htm?utm_source=openai))
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What is the correct answer to this UPSC 1997 Indian Economy question?▼
The correct answer is option (b): 20 to 25 per cent. Watch the detailed video explanation in our Sherlocking Prelims course on UnlockIAS.
Which year was this National Income & Economic Growth question asked in UPSC Prelims?▼
This question was asked in UPSC CSE Prelims 1997, GS Paper 1, as Question 5. It falls under Indian Economy > National Income & Economic Growth.
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This question is rated "easy". It tests basic recall and most well-prepared aspirants should answer it correctly.
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