E-way Bills Hit Record 140.6 Million in March, Signaling Strong Economic Activity

The increase in e-way bill generation also increased on a month-on-month basis by 6.04 per cent from 132.59 million in February.

An e-way bill is an electronically generated document mandated under the GST regime for the movement of goods valued above Rs 50,000. It captures details of the consignment, consignor, consignee, and transporter, and enables real-time tracking of goods movement across states so that they do not escape the tax net.

The strong growth comes in the wake of the sharp cut in GST rates across sectors during September, triggering an increase in the demand for goods which have turned cheaper.

The high volume of goods and services is also reflected in GST collections which rose to Rs 1.78 lakh crore in March 2026, registering a growth of 8.2 per cent compared to the same period last year. The rise in collections despite the cut in GST rates indicates the strengthening consumer demand in the economy.

Gross GST collections for the month of March reached over Rs 2 lakh crore, up 8.8 per cent against Rs 1.83 lakh crore in March 2025.

According to the Second Advance Estimates released on February 27 by the Ministry of Statistics, Private Final Consumption Expenditure (PFCE) is projected to grow 7.7 per cent in real terms in 2025-26, up from 5.8 per cent in 2024-25.

The Reserve Bank of India (RBI), in its monetary policy review on April 8, also highlighted robust private consumption as a key driver of growth momentum.. RBI Governor Sanjay Malhotra said growth impulses continue to be supported by robust private consumption and investment demand.

The RBI has projected India's real GDP growth at 6.9 per cent for the financial year 2026-27 despite the global uncertainties triggered by the Middle East conflict. This projection highlights continued resilience supported by robust domestic consumption and investment.

- IANS