Bangalore, July 7 (ANI): Former Infosys director TV Mohandas Pai, said new poverty report by C Rangarajan could be accepted if it was based on present currency value. A panel headed by former Economic Advisor to the Prime Minister, C Rangarajan, submitted a report stating that people spending below rupees 47 a day in cities would be considered poor, much above the rupees 33-per-day mark suggested earlier by the Suresh Tendulkar Committee. India has witnessed stellar economic growth over the last two decades, yet one third of the country's 1.2 billion population still lives below the poverty line.