Eway Bill Volumes Hit Third Highest Ever

In November, India saw 129.8 million eway bills, which are electronic permits for moving goods worth over Rs 50,000.

This is the third-highest number ever and shows a 28% increase from last year.

The economy is growing fast, with an 8.2% increase in the July-September quarter.

Experts think this shows more economic activity, but it's too early to know if it will mean more GST collections.

The government has also fixed some problems with the eway bill system to make it better.

However, the penetration of electric vehicles in the two-wheeler industry remained stagnant at 4.6% due to GST 2.0 reforms, which made internal-combustion engine (ICE) vehicles more affordable.

Sales of electric two-wheelers declined by 2.5% year-on-year to 1.16 lakh units.

In cars, EV penetration rose slightly from 3.3% to 3.8%, but it's still below the 5% mark achieved in July.

The price gap between EVs and ICE models increased, making ICE vehicles more attractive upfront.

Automakers are focusing on premium EVs and petrol vehicles, which are more profitable.

The demand for ICE vehicles is driven by price cuts following the GST reforms.

Experts believe that as battery prices decline and charging infrastructure improves, EV penetration is expected to regain momentum.