Different indicators are useful in different ways, and the most reliable picture comes from using them together.
Economic indicators such as GNI per capita are useful because they are simple, widely available and easy to compare, allowing countries to be quickly classified as LIC, MIC or HIC. They also broadly correlate with development, since richer countries usually fund better healthcare and education. However, they are only averages, so they hide inequality β a high GNI per capita can be driven by a wealthy minority β and they ignore how people actually live.
Social indicators such as life expectancy, infant mortality and literacy are useful because they measure wellbeing and quality of life directly, showing the human impact of development rather than just wealth. Their limitation is that each captures only one aspect, so on its own a social indicator gives an incomplete picture.
Composite indices such as HDI are the most useful single measure because they combine life expectancy, education and GNI per capita into one 0β1 score, balancing economic and social development so that a weakness in any one area lowers the result. Even so, HDI is still an average that hides internal inequality and ignores the environment and political freedoms.
Judgement: No single indicator is fully reliable. Economic indicators are most useful for quick comparison, social indicators for showing real quality of life, and composite indices for a balanced overview. The most useful approach is therefore to use a range of indicators together β ideally a composite such as HDI alongside a measure of inequality β rather than relying on any one number.