Upsurge in E-way bills signals to green shoots in economy
- More than 4.27 crore E-Way Bills generated in June 2020 against average of 5.3 cr permonth of pre-COVID period
- Value of E-way bills generated in June is close to pre-lockdown figures
- Unlock 2.0 set to witness a further surge
New Delhi, 5thJuly 2020: E-way bill generation data, one of the prominent indicators of economic activity has seen a tremendous recovery during the unlock 1.0. The E-way generation which used to be around 20 lakh a day, in regular times, had drastically come down after the enforcement of the lockdown. March 2020 witnessed the steepest fall in E-way bill generation plunging to a low of approximately 0.50 lakh on 25th March, the lowest
figure on the first day of the nation-wide lockdown.
However, with the phase-wise relaxation announced by the Government, the trend had started moving upwards and after the Unlock 1.0, the e-way bill generation is nearing full recovery. June 30, the last day of Unlock 1.0
ended with the generation of18.32 lakhs e-way bills with a value of over Rs. 54,500 crore, which is the highest since the enforcement of the lockdown
E-way bill is required to be generated by a registered GST taxpayer for the movement of goods if the value of the consignment is more than Rs. 50,000 for inter-state movement. For intra-state movement, limits vary from state to state. Look at how the E-way bill generation witnessed a roller-coaster ride before, during and after the lockdown.