Income tax is the tax levied on individual income from various sources like salaries, investments, interest etc. Corporate tax is the tax paid by companies or firms on the incomes they earn. These are the taxes paid by consumers when they buy goods and services. These include excise and customs duties. Customs duty is the charge levied when goods are imported into the country, and is paid by the importer or exporter.
Excise duty is a levy paid by the manufacturer on items manufactured within the country.
Usually, these charges are passed on to the consumer. Of these, plan expenditures are estimated after discussions between each of the ministries concerned and the Planning Commission. Non-plan capital expenditure mainly includes defence, loans to public enterprises, loans to States, Union Territories and foreign governments. It is the division of monetary resources among the different sectors in the economy and the ministries of the government. Fiscal policy is a change in government spending or taxing designed to influence economic activity.