The Genuine Progress Indicator (GPI) is a metric developed by the think tank Redefining Progress in the United States. Unlike traditional economic indicators, the GPI aims to provide a more comprehensive assessment of national progress by considering environmental and social factors that are not captured by measures like GDP.

The GPI accounts for various aspects, including:

1. Environmental Costs:
• This involves the deduction of the environmental impact of economic activities. It includes factors like biodiversity loss, resource depletion, pollution, loss of farmland and wetlands, and ozone depletion.
2. Social Costs:
• The GPI also considers social factors such as increases in crime rates and family breakdown, which have an impact on the overall well-being of a society.

The GPI provides a more holistic perspective on the well-being of a nation, looking beyond the economic dimension to include environmental and social aspects.

As an example, it's worth noting that Indian children of school-going age can now expect to stay in school for approximately 4.7 years longer compared to the situation in 1990. Additionally, India's per capita income has seen a substantial increase of 266.6 percent between 1990 and 2017.

It's important to acknowledge that despite these positive indicators, around 26.8 percent of India's Human Development Index (HDI) value is lost due to existing inequalities within the country. This underscores the significance of addressing social disparities in the pursuit of genuine progress and well-being for all citizens.

Social Progress Index (SPI)

The Social Progress Index (SPI) is a comprehensive metric that evaluates a nation's progress based on a blend of social and environmental factors, going beyond economic considerations. Similar in spirit to the Genuine Progress Indicator (GPI), the SPI provides a nuanced assessment of societal well-being and development.

Published by the non-profit organization Social Progress Imperative, this index draws heavily on the influential contributions of economists Amartya Sen and Joseph Stiglitz. The SPI comprises three fundamental dimensions:

1. Basic Human Needs:
• This dimension centers on vital elements like health, sanitation, and personal safety. It assesses how well a society addresses the fundamental prerequisites for human well-being.
2. Foundations of Well-being:
• This dimension focuses on factors such as ecosystem sustainability, shelter, and access to knowledge. It evaluates the underlying conditions that contribute to overall well-being.
3. Opportunity:
• Opportunity encompasses personal rights, tolerance, inclusion, and various other aspects contributing to social and economic mobility and empowerment.

Within these three overarching dimensions, a range of specific indicators are considered. These indicators span various areas including health, safety, environmental sustainability, knowledge accessibility, and societal inclusivity.

By incorporating social and environmental factors alongside economic indicators, the Social Progress Index offers a more holistic view of a society's advancement. This multi-dimensional approach provides a nuanced understanding of the overall well-being and progress of a community or nation.