This paper aims to study the dynamics and trend of societal and economic progress. Traditionally such progress were measured with the aid of material components like income, physical health and education however in recent times apart from this factors it is seen that human psychology, mental health, freedom, social capital and empowerment plays a important role in social and economic development in a country. The paper focuses on one of the vital non-tangible aspect i.e. Human Recognition. It is how common people view, value and treat another common man or women. The concept seems to be close to what we say as respect, dignity, and empowerment but is somehow different in its nature. Differentiating it from these aspects the paper throws a light on the sources of human recognition and its effect. It is concluded that human recognition helps if this aspect get’s incorporated in a society then it will become relatively safer and will prosper in both social values as well as in economic front. However Indian society with increasing number of negative recognition recorded against women, under-privileged, child’s etc. is still far from attaining full degree of positive human recognition.