As businesses across the nation resume operations and moves gradually towards the new normal, an economic rebound is seen in the month of May and June and the improvement has followed in July. According to data published by Goods and Services Network, the e-way bill collection in the month of July was 7.3% below the levels seen a year ago – an improvement of 5.4% as compared to the 12.3% contraction on year-on-year reported in June.
As per reports, the intra-state e-way bill collection in July was 3.9% below last year, compared to a 7.9% year-on-year drop in June. Meanwhile, the inter-state collection witnessed a harder hit with a contraction of 12.3% year-on-year in July after a fall of 19.9% in June.
The stocking up of essentials, rebounding of certain sector such as manufacturing etc. along with the country and states unlocking has contributed to the improvement of the e-way bill collection in the country.
Although fewer restrictions on movements of goods may have led to an improvement in e-way bill collections and steady growth is in sight, experts believe that the return to Pre-COVID level is highly unlikely.
The e-way bill collection which went down the slope in the month of March with 0.50 lakh on March 25, the lowest figure on the beginning of lockdown, in June started accelerating each week.
E-way bills generated in June were at 4.27 crore, suggesting business activity bouncing back to the pre-lockdown level when the average was 5.3 crore per month. The average value of consignments in June was INR 12.4 lakh crore, a shade smaller than the pre-COVID average of INR 15 lakh crore per month.