progress is like process should not stop other process to enter in critical section if it does not want to enter, bounded wait is related to some strict order should be followed when processes are entering into the queue there should be a bound on time and other processes can know when they can enter. if there is no bounded wait then it will cause starvation due to longer wait.
If progress and bounded wait both are satisfied then there is no chance of infinite wait so no deadlock.
Starvation-long wait
deadlock-infinite wait(mainly when two processes waiting for each other's resources in blocked state)