The average rate of domestic savings (gross) for the Indian economy is currently estimated to be in the range of

1. The question asks for the estimated average rate of gross domestic savings for the Indian economy around the time the question was asked (1997). 2. India's gross domestic savings rate experienced significant changes over the decades. 3. In the mid-1990s (around 1995-96, 1996-97), following the economic reforms initiated in 1991, the savings rate was generally hovering in the range slightly below or around the mid-twenties. 4. Official data indicates that the Gross Domestic Savings rate as a percentage of GDP was around 23-25% during this period (e.g., 25.1% in 1995-96). 5. Therefore, the range of 20 to 25 per cent is the most appropriate estimate for the average rate of domestic savings (gross) for the Indian economy *currently* estimated (at the time of the 1997 exam).