Rise in e-way bills shows sign of re-starting economy

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It seems that India is re-opening after over 70 days of lockdown. Shops, malls, restaurants and hotels have already started operations. There are signs that the economy has restarted and it can be said that economy will get back on tack in no time. For instance, the number of trucks moving freight is up at 2-2.5 million in May, nearly double of April, when the country was in a complete lockdown.

Generation of e-way bills for the month of May touched 11.4 lakh per day in the last week of the month. The daily average for the whole month to 8.2 lakh, almost 3 times the figure generated in April.

E-way bills track the cargo movement under the Goods and Services Tax. They give an approximation of inventory movements that might indicate wholesalers stocking up on inventory in anticipation of demand. As a fallout of the lockdown, a lot of stock could not be delivered to retail markets. The upcoming weeks, post-lockdown, could see unloading off of perishable stock in books and clearance of old inventory.

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