E-way bill generation rose 18.8% in February to third-highest tally

E-way bill generation rose 18.8 per cent year-on-year to 132.6 million in February, according to data released by the Goods and Services Tax Network (GSTN). Though lower than 136.8 million in January, the figure was the third-highest monthly tally so far. Following the GST rate rationalisation that took effect on September 22, 2025, e-way bill generation had touched a record 138.4 million in December.

 

An e-way bill is an electronically generated document mandated under the GST regime for the movement of goods valued at more than Rs 50,000. It contains details of the consignment, consignor, consignee and transporter, and is designed to curb tax evasion while enabling real-time tracking of goods, whether moved inter-state or intra-state. 

 

According to Pratik Jain, partner with Price Waterhouse, the strong growth in e-way bill generation in February underscores continued momentum and underlying economic activity. The 18.8 per cent increase reflects both improving consumption demand and the deepening of GST compliance mechanisms. “The sustained high levels of e-way bill generation suggest stable supply chain activity and could support healthy GST collections in the months ahead,” Jain added. 

As per Harpreet Singh, partner, Deloitte, the strong growth in e-way bill generation underscores sustained momentum in goods movement across the economy. “While the slight sequential dip reflects typical post-January normalisation, the nearly 19 per cent year-on-year increase indicates healthy underlying demand and continued formalisation of supply chains under the GST framework.”

 

The strong numbers come amid expectations of improved consumption demand in the economy. According to the Second Advance Estimates released on February 27 by the Ministry of Statistics and Programme Implementation, Private Final Consumption Expenditure (PFCE), a key indicator of consumer demand, is projected to grow 7.7 per cent in real terms in 2025–26, higher than the 5.8 per cent recorded in 2024–25.

 

In nominal terms, PFCE is expected to grow 8.9 per cent, with its share in nominal Gross Domestic Product (GDP) rising to 56.7 per cent in FY26 from 56.5 per cent in FY25.

 

The projected consumption growth is expected to support overall real GDP growth of 7.6 per cent in FY26, up from 7.1 per cent in the preceding year, based on the revised GDP series with 2022–23 as the base year.