Best indicator for nutritional status for a child is –
Health and development are intimately interconnected.
Proper nutrition of children is fundamental to the achievement of sustainable development.
Anthropometric measurements are the most widely used indicators of nutritional status in a community.
The commonly used anthropometric measurements are -
Weight  
Length / height   
Arm circumference                              
Chest circumference
Skinfold thickness          

Measurement of weight and rate in gain in weight are the best single parameters for assessing physical growth.

The comparison of a child's height and weight with the standard growth chart helps to determine if the particular child is within the expected normal range for his age, sex and socioeconomic status.
It does not indicate if the rate of growth of child was normal in the recent past.
The point to stress here is that it is very difficult to recognize a recent disturbance in growth by comparing weight or height with the reference standards because a clearly abnormal percentile position on the growth chart becomes evident only when the factors retarding growth are profound or if they have persisted for a considerable time.
Measurement of the velocity of growth or increment in unit time is a better tool for early identification of factors affecting growth and also for assessment of the usefulness of social and remedial measures.
Mid arm circumference
Head circumference
Rate of increase of height and weight
Chest circumference