This article explores the estimation of Shannon entropy and Rényi entropy based on the generalized inverse exponential distribution under the condition of stepwise Type II truncated samples. Firstly, we analyze the maximum likelihood estimation and interval estimation of Shannon entropy and Rényi entropy for the generalized inverse exponential distribution. In this process, we use the bootstrap method to construct confidence intervals for Shannon entropy and Rényi entropy. Next, we select the gamma distribution as the prior distribution and apply the Lindley approximation algorithm to calculate `estimates of Shannon entropy and Rényi entropy under different loss functions including Linex loss function, entropy loss function, and DeGroot loss function respectively. Afterwards, simulation is used to calculate estimates and corresponding mean square errors of Shannon entropy and Rényi entropy in GIED model. The research results show that under DeGroot loss function, estimation accuracy of Shannon entropy and Rényi entropy for generalized inverse exponential distribution is relatively high, overall Bayesian estimation performs better than maximum likelihood estimation. Finally, we demonstrate effectiveness of our estimation method in practical applications using a set of real data.