The Indian Foundation of Transport Research & Training, in its monthly analysis, said 50% rise in cargo dispatches also led to hike in truck rentals in September
Truck rentals have surged 11-12% on trunk routes on account of a sharp rise in diesel price and build-up of peak festival season inventory.
They have also gone up due to rush by traders to beat the deadline for introduction of e-way bill transit pass system.
The Indian Foundation of Transport Research & Training (IFTRT), in its monthly analysis, said 50% rise in cargo dispatches also led to hike in truck rentals in September.
With the decline of monsoon across the country, the arrival of fruit and vegetable items into agriculture produce market committees has gone up 10%-15%, improving fleet utilisation on trunk routes.
On Delhi Mumbai round trip, rentals rose 12% to Rs 87,100 as on October 1, Delhi-Nagpur Rs 84,500 (12% rise), Delhi-Kolkata Rs 84,500 (12%), Delhi-Guwahati Rs 145,500 (11%), Delhi-Hyderabad Rs 1,18,800 (12%), Delhi-Chennai Rs 1,25,200 (12%), Delhi-Bengaluru Rs 132,700 (12%), Delhi-Ranchi Rs 86,800 (12%), Delhi Raipur Rs 80,800 (12%), Delhi-Kandla Rs 85,700 (12%) and Delhi Bilaspur Rs 84,700 (12%).
SP Singh, senior fellow & coordinator, IFTRT, told DNA Money, "The rise in truck rentals is seasonal and is largely due to peak festival and efforts by traders for early dispatches before the launch of e way bill transit pass system.''
The GST regime mandates obtaining permits called e-way bills for transporting goods consignment of more than Rs 50,000 in value with a view to checking tax evasion. The Centre plans to introduce e-way bills this month.
Singh, however, said the introduction of e-way bill system may stifle cargo movement and early tapering of festival season sales and spending may also curtail fleet utilisation. This could adversely impact truck rentals during late October and November 2017 unless manufacturing and infrastructure demand perks up due to government sops.
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