Yes, political stability is essential for the overall prosperity. The reasons are as follows:
a) The proper functioning of the political machinery enables maintenance of law and order. It is necessary for the progress of a nation and avoidance of anarchy.
b) Discipline would be brought about by political stability helping in the welfare of the people.
c) Economic conditions would improve, thereby making the advancement of individuals as well as the nation easier. The way of lives would become better.