This verse (as dua) mentioned in Chapter 2 Verse 201 and also narrated in many hadiths. Anas (May Allah be pleased with him) reported: The supplication most often recited by the Prophet "Allahumma atina fid-dunya hasanatan, wa fil-akhirati hasanatan, wa qina `adhab-annar (O our Rubb! give us in this world that which is good and in the Hereafter that which is good, and save us from the punishment of the Fire).‘’’ [Al-Bukhari and Muslim].
In the narration of Muslim it is added that whenever Anas supplicated, he used to beseech Allah with this Du`a.
Commentary: It is desirable to recite this Dua which is mentioned in the Qur'an (2:201) and which comprehends all that is good both in this life and the Hereafter. The Prophet :saw2: made it a habit to recite this Dua, and the Companions were eager to follow him in all his words and actions.
Furthermore, “The good in this world” includes all the worldly need, of wellness, spacious house, a good spouse, a broad livelihood, and the beneficial knowledge, and the work of righteous, and a composite of congratulations, and praise beautiful, etc.