Synopsis
In March, electronic permits in India surged to 124.5 million, reflecting a 20% annual growth. This increase indicates strong factory activity and a resilient economy, with e-way bills essential for tracking goods movement. GST collections also saw significant growth, contributing to positive economic indicators.Key Takeaways
- Electronic permits hit a record 124.5 million in March.
- Annual growth of 20% reflects robust factory activity.
- Goods movement increased by 11.5% from February.
- GST collections rose by 9.9% to Rs 1.96 lakh crore.
- Top contributing states include Maharashtra and Karnataka.
New Delhi, April 12 (IANS) In March, electronic permits in India hit an unprecedented 124.5 million, marking a 20% annual growth and indicating strong factory activity.
This notable increase in goods movement, which is 11.5% higher than February, reflects the resilience of the domestic economy, according to government data.
Electronic permits, or e-way bills, are essential for transporting goods both within and between states. The generation of e-way bills is mandatory for shipments valued at Rs 50,000 and above. An uptick in e-way bill generation signifies an increase in goods transportation.
Over the last 25 months, e-way bill generation has consistently risen, with March setting a new all-time high. These electronic permits are crucial for monitoring the movement of goods across India.
Experts suggest that the significant rise in e-way bill generation points to a stabilizing trend in goods movement in the last quarter of the previous fiscal year (FY25), highlighting various positive factors, such as enhanced manufacturing output and improved logistics infrastructure.
This trend also indicates a greater degree of formalization in the economy, as compliance rates have improved under the GST framework, they noted.
Additionally, GST collections surged by 9.9% to Rs 1.96 lakh crore in March compared to the same month last year, reflecting increased economic activity and better compliance.
On a sequential basis, GST collections rose by 6.8% from the Rs 1.84 lakh crore revenue recorded in February. The gross GST revenue for 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 February, Central GST collections were 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.
The top five states contributing to GST collections in March were Maharashtra, Karnataka, Gujarat, Tamil Nadu, and Uttar Pradesh.
