Justice Thakur said proper observance of these factors has been a part of India's democratic tradition and is the "greatest security" that the country can claim.
"One thing that will have to be always kept in mind is that the system must always remain stable. I must say that as a student of Constitution, I have found that there is not only wisdom or prudence in all that we do but there is also great amount of tolerance.
Justice Thakur was speaking at the launch of "The Power of Raisina Hill: The Constitutional Position, Functions and Powers of the President of India" in the presence of Justice Dipak Mishra, former Deputy Prime Minister L K Advani and former Union Minister Salman Khurshid among others.
"Political stability is one of the corner stones for progress in any country. You may call yourself a democracy, a secular country but unless there is political stability there is no progress," he said.
In his speech, Khurshid stressed on the need for a "dialogue" among the institutions of the legislature, executive and the judiciary observing that there has been a "paucity" of the same.