It must be noted that inequalities across the States on HDI are less than the income inequalities in terms of per capita SDP (Graph 1). At a fundamental level, there is no conflict between economic growth and human development. Economic growth implies an improvement in the material well being of the people including better health, education and sanitation.
But overall, I don’t see the need for a huge package. Recent ECB communications have consistently stressed that the medium term target inflation rate of below but close-to 2% is, and has always been, symmetric….