ECONOMYE-way bill generation sees a sharp increase in July...

E-way bill generation sees a sharp increase in July hinting at recovery



E-way bill generation, a key metric measuring business activity, saw a sharp increase in July compared to previous months indicating a brisk pace of economic recovery.

As of July 18, more than 35.5 million e-way bills were issued showing a daily average of more than 1.97 million.

On a like to like basis, July numbers are higher than June 1-20, during which 33.7 million e-way bills were generated, with a daily average of 1.68 million. Daily average in June was 1.82 million for 54.6 million e-way bills for the month.

The numbers are also higher than May when daily average was 1.28 million for the full month and e-way bill generation was 39.9 million, the lowest since June 2020 as states imposed tight restrictions to curb rising Covid cases.

E-way bills are required for the transportation of goods of more than Rs 50,000 in value across the country.

An uptrend in July data also indicates better revenues for the government with states lowering restrictions, lifting lockdowns and reduced number of Covid cases amid the second wave.

“The sharp increase in e-way bills would indicate an accelerated recovery in the movement of goods, giving rise to expectations of improved GST collections,” said MS Mani, senior director at Deloitte India.

The total value of e-way bills for the month till June 20 amounted to Rs 10.58 lakh crore. In May, e-way bills worth Rs 14.15 lakh crore were generated, lower than Rs 17.34 lakh crore in April.

Some however flagged that while eway bills have shown a solid recovery in July it may still take time for bills to reach peak levels seen earlier in the year.

“By the end of the month, we expect the daily average for July to surpass the April 2021 level. However it would still lag the strong performance of February-March indicating an incomplete recovery,” cautioned Aditi Nayar, chief economist at ratings agency


In February, 63.8 million e-way bills were generated, which increased to 71.2 million in March – for a value of Rs 19.94 lakh crore -the highest ever since the beginning of electronic bill generation.


Source link


Please enter your comment!
Please enter your name here

Latest news

St. Louis travelers join thousands impacted by Southwest Airlines cancellations and delays

Southwest Airlines passengers continue to experience travel difficulties Monday, with more flights being delayed or canceled. Flight tracker Flight Aware...

Vols fans raise money for children’s hospital after Ole Miss game

The University of Tennessee was recently fined $250,000 after debris was thrown onto the field during the game against Ole...

Who is Isaiah Russell-Bailey?Age, Height, Parents, Career, Girlfriend, Net Worth

Isaiah Russell-Bailey Biography:- In this article, we talk about Isaiah Russell-Bailey is an American film and television actor. He made...

Who Is Celia Lora?Celia Lora Body, Career, Boyfriend & Net Worth

Celia Lora is a famous model who is rocking the fashion industry since her arrival. So what does makes her...

The Ultimate Guide On How To Recycle Your Old Mattress

Due to the increasing recycling industries and requirements for landfill space, many states and cities have been making mattress...


Including the Napa Valley Vineyard & Elizabeth James’ Fancy London Home:ICONIC PARENT TRAP LOCATIONS:Despite the fact that it was...

Must read

You might also likeRELATED
Recommended to you