EPW Research Foundation The latest CSO data show an improvement in domestic saving and investment in 1993-94 and 1994-95, but an examination of the sources of that improvement and the later sharp reduction in the financial saving of the household sector during 1995-96, despite two years of accelerated GDP growth and high interest rates, as brought out by the Reserve Bank of India's latest estimates, suggests that no clear upward trend in saving and capital formation has emerged yet.