Economic Survey · Ministry of Finance, Department of Economic Affairs · 2024-07-22

Economic Survey 2023-24 - Chapter 1: State of the Economy (GST and e-way bill indicators)

The July 2024 Survey uses GST collections and e-way bill generation as evidence of strong activity and better compliance in FY24. It names GST and the Insolvency and Bankruptcy Code as structural reforms that have matured. It also argues that granular GST data could do much more if it were shared appropriately. Possible uses include judging business health, screening loans, cash-flow-based lending and regional economic analysis.

Read the official report →All GST reports

Key findings and recommendations

  • GST collections and e-way bills both grew in double digits in FY24.
  • More than 1.3 crore entities were registered under GST and filing returns.
  • The rise in e-way bill generation after the pandemic is read as a sign of improving compliance.
  • The Survey recommends making granular GST data available for credit and economic analysis.

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