Union Finance Minister Pranab Mukherjee has assured the business leaders that the proposed Direct Tax Code is a futuristic bold tax regime beneficial to everyone in the long run. He said that out of 945 responses received till now, around 80% people have termed the proposed Code as Excellent or Very Good or satisfactory. The Minister was speaking at a special interactive session with business leaders organized by CII in Bangalore today. He said unlike the existing Act on Direct Taxes which could be understood only by Chartered Accountants and Tax consultants, the new Code are simple and not prone to reckless interpretation.Later, addressing a news conference, Mr. Mukherrjee said, the stimulus package existing now for the industries and commerce sector will not be reverted till economies in Europe and America hit the path of recovery. On containing price rise, he said import Duties are cut on sugar, Edible oil and pulses and states have been asked to revamp Public Distribution System for proper distribution of subsidized food items. On austerity measures, the Minister pointed out that he has instructed ministries to cut non-plan expenditure by at least 10%.