Finance Minister AMA Muhith, now preparing for authoring the next budget, on Tuesday said the data produced by statistical organizations are 'not reliable and conflicting' with other official statistics.
"Our statistical data are 'not reliable and conflicting' with other official data--it needs huge improvement," he told reporters after a second pre-budget exchange-of-views meeting with leading economists and professionals at the state guesthouse Padma.
The finance minister said the data produced by planning division and statistics division along with other key divisions differ significantly.
"I have already formed a committee to look into the matter. It is not difficult to improve. There is a need for coordination among the agencies," he told the meet.
He dismissed country's land management as a "total failure" despite the fact that he has been trying in the first and second tenures of the Awami League government to improve upon such a situation.
"I have totally failed in this matter," the minister said on a strong note of self-criticism.
He echoed the economists' views about promoting multistoried buildings in the villages to save farmlands.
Mr Muhith foresees the coming years as risky as protectionism sweeps the world.
He said destination of private investment has become questionable, mainly owing to black money.
"Private investors are investing their resources abroad," the finance minister told the economists.
He noted that country's crop insurance remained neglected.
The economists stressed the need for promoting crop insurance.
The finance minister said finance information should be detailed about the infrastructure projects.
He said economists emphasized detailed public enterprise information in the budget.
Admitting his failure about district budget, the finance minister said it was not possible despite his willingness.
"There is a need for an administrative reform for successful implementation of district budget," he told the meet.
He said there has been discussion about banking commission but nothing concrete has come out yet.
Former finance minister M Syeduzzaman, former secretary Dr Tareq, CPD distinguished fellow Debapriya Bhattacharya and Dr. Ahsan H Mansur, among others, attended the meeting.