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As on : 23-Mar-2026

Economy - Reports
23-Mar-2026 18:07

Economic activity picked up pace as evidenced by high-frequency indicators of fuel consumption, trade and logistics

Reserve Bank of India (RBI) stated in a latest monthly update that domestic economic activity picked up pace in February, as evidenced by high-frequency indicators of fuel consumption, trade and logistics. E-way bills continued to exhibit double-digit growth supported by GST rate rationalisation. GST revenue strengthened, reflecting sustained demand and economic activity. Petroleum consumption recorded stronger growth, supported by a favourable base effect. Digital payments sustained steady growth in terms of both transaction value and volume. However, electricity demand moderated, primarily due to lower usage of heating appliances amidst above normal winter temperatures during February.

The central bank note that toll collections continued with the declining trend after the introduction of the FASTag Annual Pass scheme in August 2025. Both urban and rural markets supported strong demand, aided by lower income tax and GST rates, cash flows from the kharif harvest, and the wedding season. The automobile sector continued to build on the positive momentum following the GST reforms. Retail sales of two-wheelers, passenger vehicles, and tractors reached their highest-ever levels for February.

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