In the context of global developments in the measurement of child poverty, this article critiques the limited success of the Indian government to develop a comprehensive social policy approach to address multi-faceted deprivation suffered by Indian children. Since independence in 1947, Indian governments have focused on childhood deprivation through various programmes to improve food security, education and health. However, these programmes have functioned in siloes without any linkages to each other, along with poor budgetary commitment which has resulted in sub-optimal policy outcomes. Based on the theoretical approaches of Amartya Sen's capability approach and Townsend's consensual approach to poverty measurement, this article highlights the intrinsic importance of child well-being to society. To achieve its objectives, the article is organized into four main parts. First, the article provides an overview of Indian children's deprivation and poverty, and the policy approach. Second, it provides conceptual advancements globally on the measurement of child poverty and deprivation. Third, it highlights the importance of utilizing these indicators to measure child poverty in the Indian context. Fourth, it concludes with a critical analysis of children's budgets and social policy in India to highlight that the Indian government's approach towards child well-being is not only conceptually flawed, but that its commitment is extremely poor.