It is a direct tax on the net income or profit of a company based on its global earnings, in case of companies who have operations in India, and is levied on the income received in India or that accrues in India in case of non-residing companies.
Customs duty is the tax that is levied on imports and exports of goods. This is used by the government to raise revenues, regulate movement of goods and safeguard domestic industries.
Cess is not a long-term source of revenue for the government, and it is phased out after the goal for which it was imposed is met. It can be applied to indirect as well as direct taxes.
The government borrows through the issue of government securities called G-secs and Treasury Bills. It is a loan taken by the government that falls under capital receipts in the Budget document. Whenever the tax and non-tax revenue falls short to finance the government's spending, the government announces an annual borrowing programme in the Budget every year.
Fiscal policy is an estimate of taxes that are to be levied and also the expenditure that the government will make to run the economy of the country. Fiscal policy can be either expansionary or contractionary.