Mr Chidambaram was addressing a post-Budget analysis session organised by the South Indian Educational Society (SIES), Mumbai. According to him, the Budget came out with bold announcements like scrapping of Banking Services Recruitment Board, new labour reforms, contract labour abolition Act, moratorium on leave travel, allowance, etc . However, the real task lies in implementing these proposals by formulating the necessary laws. According to him, employment, inflation and investment are the three critical areas that needed to be immediately addressed.