The concept of good governance is modern device for better functioning of democracy. Democracy cannot function properly in absence of good governance. Democracy without good governance is like democracy of Plato who defines democracy as “rule of crowd.” The scheme of good governance helps to make democratic government stable, consolidated and positive.
According to Michel Camdessus (Former Managing Director of IMF), good governance is confined to “surveillance over macro-economic policies, transparency of government accounts, effectiveness of public resource management and the stability and transparency of economic and regulatory environment for private sector activity.”
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