<h1>Raghuram Rajan Committee Proposes Composite Index to Aid Backward Indian States; Suggests Periodic Updates and Additional Support.</h1> A government committee, chaired by Dr. Raghuram G. Rajan, developed a composite development index to identify and assist backward states in India. The committee's tasks included suggesting criteria for determining state backwardness, assigning weightage to these criteria, and recommending how they should influence fund allocation from the central government. The committee proposed updating the underdevelopment index every five years and revisiting it after ten years. Least developed states would receive additional central support. The approach is intended to complement, not replace, existing funding methodologies. The government is currently reviewing these recommendations.