This paper introduces the philosophy of Gross National Happiness (GNH) propounded by the His Majesty the forth king of Bhutan, Jigme Singay wangchuk. The paper particularly explores more on the Good Governance which is one of the four pillars and nine domains of the Gross National Happiness (GNH). It further elaborates on four dimensions of good governance. Under those dimensions the concepts like, how GNH is being politically pursued in Bhutan basically in terms of maintaining good governance? Whether GNH is flourishing or floundering under the new political climate of parliamentary democracy? Will also be discussed with respect to assuring good governance as desired by its people.