He said the scale and speed of changes happening around the world are unprecedented and so are the challenges.
"This dynamic nature calls for adopting and developing appropriate public policies," Mukherjee told a group of students of Indian School of Business, Mohali, who had called on him here.
"What is read in literature about public policy today will change in few years. This calls for constant upgradation of skills and knowledge even on the part of the specialists," the President said.
"That capacity is directly related to the ability to make effective public policies and to implement these policies effectively. A good public policy with poor implementation is of no value and significance to society and nation," Mukherjee said.
The President said the treatise of Chanakya on public policy discourse has always been a guiding force in the area of public finance, urban governance, security and diplomacy.
A press release issued by Indian School of Business (ISB) said the President addressed founding class of the Management Programme in Public Policy at a ceremony held at Rashtrapati Bhavan.
The class comprises professionals from the public, private and social sectors. Quoting the father of the nation, Mahatma Gandhi, Mukherjee said, "I wish to see each one of you as a change agent. You have been trained from one of the world's finest management schools which has equipped and empowered you to respond to any challenge, and in the process, contribute to the task of nation building".