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Synopsis Good governance is the sine qua non of any government that has the responsibility of governing a polity. This is true of any political, social and economic organisation which has to manage its mission with reference to the vision, giving rise to a new concept called "corporate governance". The consequence of absence of good governance on the lives of the people could be disastrous and, hence, needs to be diagnosed, analysed and corrected. On the other hand, parameters of good governance have to be promoted, the litmus test being the upgradation, enhancement and enrichment of the quality of life, not just level of living. Seminality of good governance, its spirit and soul lie in the ethnical, moral, cultural and spiritual efflorescence and they die in the corrosive erosion of values, norm-deviation, aberrative and corruptive behaviour and action. Obviously economic development woven around GNP, income, growth and physical wellbeing can go upto a quantitative point but what needs to be addressed in the existential context of deprivation, disparity, discrimination and disentitlement is real poverty-eradication, widening the rectangle of opportunities, releasing the will of the people, expanding life’s choice, securing to all the liberty, equality, fraternity and social justice, besides ensuring human harmony and happiness. Life has not only to be increased but also to be transvalued, beyond all past pales of degradation, degeneration and dehumanisation. Organisations have to be restructured, de-hierarchized and re-engineered, work style processes require to be methodised and fine-tuned and personal sufficiently motivated, recharged, dynamised and completely culturised. Triumph of man, victory of humanity and discovery of a new civilisation for mankind should be the horizon, the future vision of good governance.