According to data from the Goods and Services Tax Network (GSTN), e-way bill generation surged 18.8% year-on-year to 132.6 million in February 2026.
Although it was lower than 136.8 million in January 2026, the figure was the third-highest monthly total to date. Following the GST rate rationalisation that took effect on September 22, 2025, GST e-way bill generation reached a record 138.4 million in December.
An e-way bill is an electronically generated document required under the GST regime for the movement of goods valued at more than Rs 50,000. It includes information on the consignment, consignor, consignee, and transporter, and is designed to curb tax evasion while enabling real-time tracking of goods, whether moved interstate or intrastate.
The robust rise in e-way bill generation in February indicates continued momentum and underlying economic activity. The 18.8% rise indicates increased consumption demand and stronger GST compliance.
The sustained high levels of e-way bill generation indicate stable supply chain activity and can support strong GST collections in the coming months.
Read More: GST E-Way Bill Generation Hits Record High in December 2025, Up 23.6% YoY
Sustained momentum in goods movement has been evident across the economy, as evidenced by the robust rise in e-way bill generation. A sequential drop indicates post-January normalisation, with approximately a 19% year-on-year rise, indicating effective underlying demand and continued formalisation of supply chains under the GST structure.
Recent data indicate strong expectations for consumer demand. The Ministry of Statistics and Programme Implementation released its Second Advance Estimates on February 27, projecting that Private Final Consumption Expenditure (PFCE), a key measure of consumer spending, is expected to rise by 7.7% in real terms in fiscal year 2025–26. This represents an increase from the 5.8% growth recorded in 2024–25.
In nominal terms, Private Final Consumption Expenditure (PFCE) is projected to grow by 8.9%, with its share in the nominal Gross Domestic Product (GDP) expected to increase to 56.7% in FY26, up from 56.5% in FY25.
The projected surge in consumption 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, according to the revised GDP series with 2022–23 as the base year.
