This chapter critically examines Gross National Happiness (GNH) as an alternative development paradigm that redefines progress beyond conventional economic metrics. Originating in Bhutan during the 1970s, GNH emphasizes holistic well-being through four foundational pillars: sustainable and equitable socio-economic development, environmental conservation, cultural preservation, and good governance. These pillars are further articulated into nine domains—psychological well-being, health, time use, education, cultural diversity and resilience, good governance, community vitality, ecological diversity and resilience, and living standards—which collectively form the basis for measuring national progress. The chapter also addresses the methodologies employed to quantify GNH, notably the use of 33 indicators categorized under the nine domains, constructed through a multidimensional approach. It critically assesses the applicability of GNH in development planning, highlighting its potential to redefine progress in South Asia and beyond. While GNH offers a comprehensive perspective on development, the chapter acknowledges challenges such as measurement complexities, policy integration, and balancing economic growth with holistic well-being. Through this analysis, the chapter aims to provide insights into the prospects and limitations of adopting GNH as an alternative development model.