Good governance refers to good order and workable arrangements that cover a wide array of institutional arrangements including regulatory and legal framework which are a must to ensure a cost-effective delivery model for the entire range of products and services. In India, we have created many institutions in this direction over the last two decades.
However, we do not still compare well in terms of governance indicators. In terms of the World Bank governance indicators developed by Kaufman, Kraay and Mastruzzi, India ranked at about 46th percentile in 2009 based on a range of indicators that are considered, implying that more than half of the 210 countries studied score better on governance.