Introduction:
Since 1950, India has witnessed significant changes in its economic landscape. Several factors have contributed to the country's saving patterns, including individuals, companies, and nationalized industries. However, the largest source of saving in India since 1950 has been individuals.

Explanation:

1. Importance of Individual Savings:
Individual savings play a crucial role in the overall savings of a nation. It reflects the financial discipline and saving habits of the population. In India, individuals have been the largest contributors to savings due to various reasons.

2. High Savings Rate:
India has traditionally had a high savings rate compared to other countries. The cultural and social values in India encourage individuals to save for future needs and emergencies. The savings rate of individuals has remained consistently high over the years.

3. Savings in Financial Instruments:
Individuals in India predominantly save their money in various financial instruments like bank deposits, post office savings schemes, small savings schemes, and mutual funds. These financial instruments provide individuals with a safe and convenient way to save their earnings.

4. Role of Household Savings:
Household savings have been a significant component of individual savings in India. Families set aside a portion of their income for future expenses, such as education, healthcare, and retirement. This disciplined approach towards saving has contributed significantly to the overall savings in the country.

5. Importance of Informal Savings:
Apart from formal financial instruments, individuals in India also save through informal means like gold, real estate, and chit funds. These informal savings avenues are popular among individuals who may not have access to formal banking services or prefer alternative investment options.

6. Government Initiatives:
The Indian government has also played a crucial role in promoting individual savings through various initiatives. Schemes like the Public Provident Fund (PPF), National Savings Certificate (NSC), and Employees' Provident Fund (EPF) have encouraged individuals to save for their future.

Conclusion:
In conclusion, individuals have been the largest source of savings in India since 1950. The cultural emphasis on saving, high savings rate, preference for financial instruments, household savings, informal savings options, and government initiatives have all contributed to individuals being the primary contributors to the country's savings.