New Delhi: Electronic permits in India reached a record 124.5 million in the month of March, a 20 per cent increase on an annual basis, showing robust factory activity. The sharp rise in India’s goods movement, which is 11.5 per cent more than February, means the domestic economy remains resilient, showed government data.
Electronic permits or e-way bills are used to ship goods within and across states. E-way bills are mandatory for the movement of consignments worth Rs 50,000 and more. A hike in E-way bills indicates higher movement of goods.
E-way bill generation has maintained an upward trajectory for 25 months, with March setting a new record. The electronic permits are mandatory for tracking the movement of goods across the country.
According to experts, the robust recovery in e-way bill generation suggests stabilisation of goods movement in the last quarter of last fiscal (FY25) underscores several positive developments, including increased manufacturing output, improved infrastructure and logistics efficiencies.
This also shows greater formalisation in the economy as compliance levels rise under the GST regime, they noted.
Meanwhile, goods and services tax (GST) collections surged by 9.9 per cent to Rs 1.96 lakh crore during March this year, compared to the same month of the previous year, reflecting the higher level of economic activity and better compliance.
Sequentially, the GST collections were 6.8 per cent higher than the Rs 1.84 lakh crore revenue recorded in February this year. Gross GST revenue in March included Rs 38,100 crore from Central GST, Rs 49,900 crore from State GST, Rs 95,900 crore from Integrated GST, and Rs 12,300 crore from compensation cess.
In comparison, February saw Central GST collections at Rs 35,204 crore, State GST at Rs 43,704 crore, Integrated GST at Rs 90,870 crore, and compensation cess at Rs 13,868 crore. Maharashtra, Karnataka, Gujarat, Tamil Nadu, and Uttar Pradesh were the top five contributors to GST collections in March.