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This paper analyses welfare impact of energy subsidy reform in India based on the data from 1970‐ 71 to 2014‐ 15. To this end, Auto Regressive Distributed Lag (ARDL) model and Error Correction Model (ECM) have been estimated to quantify the short-run and long-run price and the income elasticity of various energy products. The results show that the price elasticity of demand for all fossil fuels is...
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