The panel headed by former RBI Governor C.Rangarajan is on the same path as the earlier committees on defining poverty. The committee has stated that those spending below Rs. 32 in rural and Rs. 47 in towns will be treated as poor. This is atrocious, to say the least. The line has got to be upgraded much more.
Even according to this standard there are 29.5 % of the population viz. about 40 crores people who are below the poverty line. The situation is worse than many African Countries.
The report is going to raise a lot of questions on the government in the country.
VAN Namboodiri's Blog 
What is your criteria for fixing the poverty line Sir?
it is to be decided on the basis of a fair living condition including the prices of essential commodities, health requirements, educational facilities etc. There are many suggestions in the matter which have to be discussed and decided by expert committees.