The Indian economy moved from a position of very low levels of savings and investment in 1950s and 1960s to relatively higher levels of savings and capital accumulation in recent years. Estimates of savings in India are available for three sectors viz. the household sector, the private corporate sector and the public sector. The household sector includes, besides individuals, all non-government and non-corporate enterprises like sole proprietorships, partnerships and institutions. Examination of savings data presented in Table 3.4 shows that until late 1960s, the rate of growth of savings was low due to higher share of low productive (and consequently low saving) agriculture in the GDP and also due to lack of development of institutions for the mobilisation of savings, particularly in rural areas. There was considerable increase in the savings during 1968-69 to 1975-76 due to bank nationalisation, rapid expansion of bank branches and improved performance of the agricultural sector. Beginning with late 1970s, savings experienced rapid surge contributed mainly by sharp increases in foreign remittances leading to increase in household savings. Corporate savings too started increasing during this period. During the 1990s, savings remained stable at a relatively high level of about 24 per cent. Beginning with 2000-01,there was another spell of steep rise in savings, mainly as a result of considerable increase in the corporate savings, taking the aggregate country's saving to an impressively high level of 34.8 percent in 2006-07. In recent years, the savings and investment levels in India, have reached high levels comparable to those of South East Asian countries. High levels of sustained savings and investment are among the main forces of sustained high levels of growth experienced in recent years in India.