57 mn e-way bills generated in Sep; signs of economic growth: Finance Secy

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Finance Secretary Dr Ajay Bhushan Pandey on Thursday said more than 5.74 crore e-way bills have been generated in September and these are affirmative signs of economic growth as the business activities are unlocking gradually and despite the adverse impact of COVID-19.

"In this September, more than 5.74 crore e-way bills have been generated. These are affirmative signs of economic growth as the business activities are unlocking gradually and despite the adverse impact of Covid-19, there are indicators of economic recovery," Pandey said.

The Finance Secretary said that there is positive revenue growth in September this year over the corresponding period last year as the Goods and Services Tax (GST) collection has shown not only a growth of 4 per cent year-on-year with Rs 95,480 crore collections but also there is a record generation of e-Way bills on any single day since the facility was provided.

"On September 30, 2020, almost 26.19 lakh e-way bills were generated, which is the highest ever count so far in a single day. This is the third day in this year when the e-way bills have been generated to mark a record count. Before September 30, on February 29 this year 25.19 lakh e-way bills were generated while on January 31 around 24.74 lakh e-way bills were generated," he added.

The Finance Secretary said that this is a very affirmative sign of economic recovery with increased business activities since the lockdown due to COVID-19 pandemic six months back.

"The number of e-Way bills generated on this month was 9.3 per cent more than those generated on an average in the month of September previous year, with a record hike on a single day with 26.19 lakhs on September 30, 2020," Pandey said.

He said that the GST revenues gross collections of Rs 95,480 crores are 4 per cent higher in this September than the GST revenues in the same month last year.

"Some major industrial states have shown very positive growth percentage in GST collection which is indicative of the process of economic recovery being on track. With the festive season coming in the next month, we are confident of better recovery in GST collection," Pandey said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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