Electronic Toll Collection Surges To Rs 6,115 cr In Oct
The collection is the highest ever in a month since the compiling of electronic toll data started in 2021
Electronic Toll Collection Surges To Rs 6,115 cr In Oct
New Delhi: Electronic toll collection in the country soared to a record Rs 6,114.92 crore in October this year as economic activity surged during the festive month, according to the latest figures compiled by the government. The collection is the highest ever in a month since the compiling of electronic toll data started in 2021 and represents a 7.6 per cent increase over the monthly average of Rs 5,681.46 crore for the previous six months, the official figures showed.
Total electronic toll collection in the country in the first six months of this financial year stood at Rs 34,088.77 crore, up 9.8 per cent from Rs 31,026.64 crore a year.
The surge in toll collection is also supported by the Goods and Services Tax Network (GSTN) data on e-way bill generation for the transportation of goods across the country which soared to a record high of 11.7 crore during October, representing a 17 per cent jump over the same month of the previous year.
The surge in e-way bills reflects the increase in economic activity as the manufacturing sector accelerates to meet the growing demand in the economy during the festive season. The sharp rise in e-way bills leads to higher tax revenues in a buoyant economy, placing more resources in the hands of the government to invest in large infrastructure projects to spur growth and carry out its social welfare schools to uplift the poor. Goods and Services Tax (GST) collections rose to Rs 1.87 lakh crore in October, the second-highest monthly revenue since the GST system was introduced in 2017. The figure represents an 8.9 per cent increase over the same month last year and comes on top of Rs 1.73 lakh crore collection in September, which had grown 6.5 per cent year-on-year.
The figures are also in line with the HSBC survey, released earlier this week, which showed that India’s manufacturing sector growth accelerated in October, fuelled by faster increases in total new orders and international sales leading to the creation of more jobs during the month.
