New Delhi, April 11 -- India's goods movement hit a new high in March, as businesses rushed to dispatch inventories before the financial year closed.

The number of electronic permits-or e-way bills-used to ship goods within and across states surged to a record 124.5 million, government data showed, underscoring a spike in factory activity and economic momentum.

The sharp rise-20% higher than March last year and 11.5% more than February-points to robust year-end clearance from warehouses and factories, often a prelude to higher tax receipts.

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A similar surge in March last year preceded a record Rs.2.1 trillion in goods and service tax (GST) collection in April 20...