Lifetime Achievement Award to Ex-RBI Governor Rangarajan
On June 29, 2020, former RBI Governor C Rangarajan was conferred with lifetime achievement award for his contributions. The award was presented on the side lines of celebration of Statistics Day.
About C Rangarajan
Rangarajan was born in 1932. He was the 19th governor of Reserve Bank of India (RBI). He served as Deputy Governor of RBI between 1982 and 1991 and as Governor between 1992 and 1997.
He has also served as Governor of Andhra Pradesh between 1997 and 2003. He was the chairman of the 12th Finance Commission. He also served as Governor of Tamil Nadu between 2001 and 2002.
He was honoured with Padma Vibhushan, the second highest civilian award in India in 2002.
Rangarajan Committee
A Committee was set up under his chairmanship in 2012 to review the way poverty is estimated in India. The Committee submitted its report in 2014.
The Committee concluded that people spending below Rs 47 per day in cities would be considered as poor. The Consumption expenditure was fixed as the basis of poverty determination.
Today, poverty estimation is carried out by NITI Aayog. The think tank calculates poverty level in India based on the data collected from National Sample Survey Office that operates under Ministry of Statistics and Programme Implementation.
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Month: Current Affairs - June, 2020