Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: Markets broke their three-day consolidation with a significant drop of almost 1.5% on the monthly expiry day. The decline was driven by selling in IT and banking stocks, though broader indices showed slight outperformance, ending marginally higher.

TOP STORIES

Air India aims for 400 planes by 2027

What happened?

Air India is all set to grow its fleet by a whopping 33%, reaching 400 planes by 2027. (That’s a lot of planes—you could start a traffic jam in the sky!) But not everything is taking off smoothly. A Boeing strike and supply chain hiccups have delayed deliveries of new aircraft by six months. Of the promised 50 "white tail" Boeing 737 MAX planes (built for someone else, but now Air India’s lucky catch), 35 have already joined the party.  

Why it matters?

India’s economy is buzzing, with GDP growth expected at 5-6%. This means more people will want to fly, and Air India wants to grab the lion’s share. The airline is also splurging $400 million to give its older planes a facelift—think swanky seats, modern entertainment screens, and better galleys. (Basically, turning them into flying hotels.)

While some planes will be grounded during this makeover, it’s all part of a bigger plan to offer top-notch travel experiences.

Conclusion

On top of all this, Air India has merged with Vistara, creating India’s largest international airline, flying 120,000 passengers daily across 90 destinations.  

If things go right, Air India could become a global star in aviation. For now, it’s all about managing delays, upgrades, and sky-high ambitions. Fingers crossed, their flight plan lands them exactly where they want to be—at cruising altitude!

PAISON KA KHEL

BEML wins ₹3,658 crore Chennai Metro contract

BEML, formerly Bharat Earth Movers Limited, has clinched a massive ₹3,658 crore contract from Chennai Metro Rail Limited. The project includes designing, manufacturing, and testing metro trains, along with depot machinery. But wait, there’s more—BEML will also handle training personnel and maintain the rolling stock for 15 years. 

Stellaris Venture launches $300 million fund  

Stellaris Venture Partners has launched its largest-ever $300 million fund, aimed at backing early-stage tech startups in seed and Series A rounds. Over the next three years, it plans to invest in 25-30 startups, continuing its track record of leading rounds and supporting businesses through subsequent financing. 

With $600 million in assets under management, the firm has garnered support from top-tier global investors, including university endowments and pension funds.

TOP STORIES

BPCL’s Big Bet on Green Jet Fuel

What happened

Bharat Petroleum Corporation Limited (BPCL) is all set to soar into the green skies with its first sustainable aviation fuel (SAF) production facility, expected to launch by 2027. In line with the government's mission to reduce emissions, BPCL is currently weighing its options between Kochi or Mumbai for the facility's location.

While the exact capacity and investment are still under wraps, BPCL is eyeing cutting-edge technologies like oil-to-jet and ethanol-to-jet to produce SAF.

Why It Matters

India’s aviation sector is responsible for a hefty 12% of transportation-related carbon emissions, but SAF promises a solution—cutting emissions by up to 80%. BPCL’s new facility will help India hit its target of blending 1% SAF with aviation turbine fuel (ATF) by 2027, which means we’ll need about 140 million litres of SAF annually (yes, that's a whole lot of fuel!). 

Beyond clean skies, this move is also a win for farmers, especially those growing sugarcane for ethanol. Plus, the initiative is expected to create 100,000 jobs.

The numbers game

BPCL is all set to take off with its green jet fuel initiative, which is in line with the government's SAF blending mandate. The company is putting its money where its mouth is, planning a whopping ₹1.7 lakh crore investment over the next five years. 

• This includes ₹75,000 crore for refineries and petrochemicals, ₹8,000 crore for pipeline projects, and ₹20,000 crore for marketing.
  
  

• It’s also channelling ₹25,000 crores into gas, ₹10,000 crore into green energy, and ₹32,000 crore into upstream production in Mozambique and Brazil.

GLOBAL NAZARA

Australia bans social media for kids under 16  

Australia has finally passed a groundbreaking law banning children under 16 from using social media, setting a global precedent. The law, which will take effect in November 2025, mandates strict age-verification measures on platforms like Facebook, Instagram, TikTok, and more, with fines of up to $49.5 million for non-compliance. 

The decision follows concerns over the physical and mental health risks social media poses to children. To enforce the ban, Australia will trial age-verification systems, including biometrics or government ID checks. 

India stuck between China’s exports and US tariffs

With the US slapping higher tariffs on Chinese goods, India might get the short end of the stick. Crisil warns that higher US tariffs on Chinese goods could flood India with diverted exports from Beijing. Already a top importer from China, India’s trade deficit with the neighbour hit a whopping $85.1 billion in FY24. 

Meanwhile, India enjoys a $35.3 billion trade surplus with the US, thanks to $120 billion in total trade. 

TOP STORIES

Will GST Bring Relief to Natural Gas?

What Happened

The Union finance ministry has received a proposal to bring natural gas under the Goods and Services Tax (GST) system. This will be discussed at the GST Council meeting in Jaisalmer, Rajasthan, on December 21, 2024. Right now, natural gas is taxed differently across states, and this creates a bit of a mess for businesses, that have to deal with multiple taxes. 

Why It Matters

Natural gas is used in many industries— fertilizers, chemicals, and even your gas stove. But the tax situation is a bit chaotic, with VAT rates on natural gas ranging from 3% in Maharashtra to 15% in Gujarat. The petroleum ministry believes that including gas under GST will make things more streamlined and cost-effective for businesses, which could even lower prices for consumers.

Major companies like ONGC, Reliance, and Oil India are expected to benefit if the proposal goes through. But some states might not be thrilled about this idea because they rake in a lot of money from VAT on natural gas—around ₹23,000 crore last year alone. 

A different plan

The finance ministry is also revisiting the windfall tax on petroleum products, which has undergone more than 20 revisions since its introduction in 2022. Originally implemented to curb the massive profits made by oil companies during the surge in global crude prices, the tax was intended to generate additional revenue for the government. 

However, with global crude prices now significantly lower—from around $135 per barrel in 2022 to $68.77 per barrel currently—the government is considering scrapping the tax altogether. 

MIRCH MASALA

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