Rising fuel subsidies have contributed to fiscal pressures in India. A key policy concern regarding subsidy reform is … implications of fuel subsidy reform in India. Fuel subsidies are found to be badly targeted, with the richest ten percent of …

consumption volatility. Calibration of the model for pre and post financial reform in India provides support for the model's key …

focused on tail events, which yields evidence on these questions. The results, for India, do not suggest that financial …