New Delhi, Jan 10 (NationPress) In December, the generation of E-way bills in India hit its second-highest record at 112 million, representing a notable 17.6 per cent increase compared to the previous year.
As reported by the Goods and Services Tax Network (GSTN) portal, this figure is a significant rise from November's total of 101.8 million.
The e-way bill generation in December exhibited a 10 per cent increase from November and an 18 per cent jump compared to December 2023.
These E-way bills are essential for transporting goods valued at Rs 50,000 and above, and their increase signifies a higher volume of goods in transit.
Previously, electronic permits reached a peak of 117.2 million in October, driven by the festive season.
Experts indicate that the strong rise in e-way bill generation indicates a stabilization in goods movement following the peak festive season. This trend highlights several encouraging factors, such as enhanced manufacturing output, better infrastructure, and improved logistics efficiency.
Furthermore, this trend reflects a greater formalization of the economy as compliance with the GST framework strengthens, as noted by analysts.
In addition, India's industrial growth, as seen in the Index of Industrial Production (IIP), surged to a six-month high of 5.2 per cent in November, up from 3.5 per cent in October of the fiscal year 2024-25.
This increase also represents a substantial rise compared to the 2.5 per cent industrial growth recorded in November 2023.
Within the manufacturing domain, 18 out of 23 industry sectors reported positive growth in November this year compared to November 2023.
Moreover, India’s GDP growth trajectory has shown improvement in the October-December quarter of the current fiscal year (FY25), while inflation has also declined, according to an HSBC Research report.
Analysis of 100 activity indicators points to a strengthened growth momentum in the quarter ending December.
