Economy – With disruptive technologies like Artificial Intelligence (AI) driving businesses, the IT sector wants the Union Budget for fiscal 2020-21 to ensure greater use of these to spur a sluggish economy among other measures for the sector, industry experts said on Friday.

“The budget should announce a fund like Singapore’s Temasek that will invest only in early-stage Indian AI start-ups and lower long-term capital gain’s tax for investing in AI-based firms,” digital intelligence firm Germin8 founder chief executive Ranjit Nair told IANS.

With the US and China racing ahead of India in AI research, AI entrepreneurship and government investment in AI, he said the budget should make it easier for start-ups to access capital, as they face an uphill task in early-stage funding.

“The government bring policies that encourage AI companies. Ease of doing business means less bureaucracy so that entrepreneurs can build solutions without distractions,” he said.

AI is expected to have a huge impact not only in commerce, but also in health, national security, cybersecurity, food security, education and global warming.

“The government should announce AI challenges, which make academia and industry solve an important problem in the country. The state’s role should give a crisp problem definition, provide access to data and provide a good cash prize,” Nair said.

Though thousands of engineering graduates pass out every year across the country, India is behind other nations in AI PhDs and AI research. Hence, the budget should allot more grants for AI research and offer incentives to institutes investing in AI training, he added.

Noting that IT was one of the few sectors that remained growth-driven despite the eonomic slowdown since the last fiscal, Cigniti Technologies chairman C.V. Subramanyam said the budget should give relief or reduce dividend distribution tax (DDT) for IT firms operating in the country.

Anti-virus leader Kaspersky’s General Manager, South Asia, Dipesh Kaura said Dipesh Kaura said: “As the budget for the ensuing fiscal is crucial for businesses across the country, we are expecting higher allocations for cyber security from the government.”

Investment in cyber security will accelerate the digital transformation. Funds should be spent on supporting skill development and training students keen to become cyber security professionals, he said.

“Cyber security awareness campaign for consumers should be a major focus of the budget,” Kaura said in a statement.

Cybage Software chief executive Arun Nathani said the budget should take steps to roll back DDT across the board to attract FDI and incentivise the sector to ramp up the capex/opex spend once the demand is back.

“Rationalising the GST rates and compliance processes will outgrow the consumption rates. The Indian IT industry will welcome specific incentives likeAweighted deductions for investing in R&D of AI/BI technology tools to facilitate IT firms, companies, universities and research institutes,” Nathani added.

Big B shares sweet memories – Christmas day saw Amitabh Bachchan turn nostalgic. He trekked down memory lane to recall how he used to celebrate the festival during his growing-up years in Allahabad (now known as Prayagraj), and also during his days in Calcutta (Kolkata), a city where he started out in life and holds very close to his heart.

In the early hours of Wednesday, Big B took to his blog to wish a Merry Christmas to fans and also reminisced how he used to celebrate Christmas along with his family and neighbours in Allahabad (Prayagraj) when he was a child.

“Christmas and the days of celebration were always within us from early times, right from the days of Allahabad .. our neighbours Rev Paul Das and his family lived opposite us from 17, Clive Road .. they were at 18 Clive Road .. and their children our group of friends – Shunila, Naresh, Malti .. Naresh was the one who suggested to my parents about Sherwood and then when he invited Principal Rev RC Llewelyn to visit us in Allahabad, the matter was firmly resolved .. we went to Sherwood,” he wrote.

The veteran actor has recalled how all of them would sing carols and listen to “Silent Night” together, while his mother made coffee for everyone. The actor has also shared memories of gifts he received, and how Christmas was never complete without cakes.

“Christmas time was carol singing with the group that came over past midnight and Maa making the finest coffee for them in the cold, as we listened to the lilting ‘Silent Night’.. there were little gifts that we looked out for form the Paul Das’s under their Christmas tree .. little trinkets, miniature cars and the like .. there was so much satisfaction on getting a pencil box.. a rubber a ruler.. the special Christmas cake made by Mrs Paul Das was a delight .. Shunila played the piano for us as we sang Hymns.. it was such a divine moment..” recollected Big B.

The veteran actor has also expressed the pain he felt when a childhood friend passed away, and meeting his sister after almost 40 years in San Francisco.

He shared: “Naresh was a year senior to me in Sherwood, and his sudden passing at a young age was a huge shock to me.. I met Malti at one of our Concert tours in San Francisco, USA where she had migrated and married.. she was so apprehensive whether I would recognise her or not.. and when I was driving away and saw her desperate face I stopped the limo, called her over and she broke down in tears.. it was after almost 40 years that we were meeting .. the next day I called her and her family over to the Hotel and we reminisced old times..”

Then came his stint of staying in the City of Joy. Kolkata (then Calcutta) was where he landed his first job in the sixties. Kolkata’s Christmas is absolutely magical, and Bachchan recalls every bit of that magnificent experience.

“BUT the true independent spirit of Christmas and New Year was celebrated in Calcutta, then.. during the time of my first job.. 1962 – 1968.. AHHH.. those were the days my friend.. freedom and cheer and the liberty of living on our own.. the group the company the various homes of friends the restaurants and the celebrations on Park Street.. which I must add still looks and dresses up for the occasion,” he wrote.

“Christmas Eve Mass at the church , by the Maidan.. the divine feeling.. the sombre prayers.. and such nostalgia when I shot ‘Teen’ there some years ago..”

“Indeed as I write it is the time for the Mass.. and the mind and body travels there..”

“Calcutta was the epitome of the celebration during these times in the entire Country.. Trinca’s , Moulin Rouge, Mogambo (Mocambo), Grand Hotel, Blue Fox.. Louis Banks, Pam Craine.. ahhh.. such delightful days.. and the non stop partying..” he recalled his pleasant memories, of the best restaurants and artists who performed at these places during the season.

That Calcutta holds a special place in Big B’s heart, is evident from his next few lines where he has mentioned:

“What a city .. what atmosphere .. and what energy .. never experienced anything like that ever again .. timeless ..

.. and is it not strange that just the other day , a book was presented to me .. pictorial .. filled with pictures and history .. titled :

“CALCUTTA THEN and Now”

Although Big B seems to be very happy as he recollects the golden memories of his younger days, the veteran actor has been keeping unwell on and off. He had to skip the National Film Awards ceremony in Delhi on December 23 because he was down with fever.

However, despite health scares every now and then, the 77-year-old actor has constantly been busy with work. He recently wrapped up the last leg of his film “Chehre” in Slovakia. He also attended the opening ceremony of the International Film Festival of India (IFFI) in Goa last month.

Bhumi Pednekar –  says she has never consulted any dietician or nutritionist, and she has always followed one rule — “eating homemade food”.

“I am extremely thrilled to engage in a live cooking session for the first time, as it is known that food makes me happy. I have always been a healthy kid and I personally love cooking and have never deprived myself from eating ghee, butter, etc, in moderation,” said Bhumi.

“I avoid refined sugar and have kept a control on my carbohydrate intake. I have never consulted any dietician or nutritionist. It was always my mother and I… as we have always followed one thumb rule of ‘eating homemade food’ which we feel is a masterstroke when one wants to lose weight and stay fit,” added the “Dum Laga Ke Haisha” actress.

She is looking forward to the cook-off session along with chef Varun Inamdar at Godrej L’Affaire on February 22 in Mumbai.

“It is a one-day curated experiential lifestyle event by the Godrej Group that aims to define future lifestyle experiences,” she shared.

On the film front, Bhumi has started shooting for her upcoming film “Durgavati”.

 Bharti Singh – Comedienne Bharti Singh and her husband, writer Haarsh Limbachiyaa, are set to host the upcoming dance reality show “India’s Best Dancer”, which will be judged by Malaika Arora, Geeta Kapur and Terence Lewis.

“I am very excited to be the co-host ‘India’s Best Dancer’ with my husband. Harsh doesn’t even know the ‘D’ of dancing so it will be a fun experience for him, and me too as I have worked with the judges in the past,” said Bharti.

“I would like to request all the viewers, who have loved us so much in comedy shows, to extend the same love and support to us in our new journey,” she added.

The two have appeared together in shows such as “Nach Baliye”, “Khatron Ke Khiladi” and “Khatra Khatra Khatra”.

“Harsh has full contribution in hosting the show. Having him by my side will be very easy for me as he is a writer, he knows what to speak while engaging with the audience and somewhere he guides me too,” she said about co-hosting with him.

The auditions across cities will begin in January and the show is slated to premiere in February on Sony Entertainment Television.

 Bharti Infratel board –  will discuss the next step to be taken in the board meeting on December 24 on if an extension is to be sought for the Infratel merger with Indus Towers announced in April last year, sources said.

The deal has already missed October 24 deadline for want of approvals and the current deadline expires on Tuesday. The deal needs clearance from the Department of Telecom which needs nod from Finance Ministry in view of an international arbitration of an old case when Vodafone bought Hutchison stake in Indian telecom arm in an 11 billion dollar deal.

India slapped a 3 billion dollar withholding tax on Vodafone which went to international arbitration. Withholding is a tax deducted at source, especially one levied by some countries on interest or dividends paid to a person resident outside that country. The case is pending.

In October the Infratel board had already given a two-month extension to secure the government’s approval which expires tomorrow. “Board will decide tomorrow whats to be done. If the Board feels more time is needed (to secure government approval) then it may be extended further or anything can be an option,” the sources said.

Anything could mean a termination of the deal but the source did not say it. Cash-strapped Vodafone Idea, currently holding 11.15 per cent in Indus Towers, was banking on an exit at the time of merger to raise over Rs 5,500 crore to fund its future network expansion needs.

The merger, proposed well over a year ago to create a company with over 1,63,000 towers, had received a clearance from the Chandigarh bench of the National Company Law Tribunal (NCLT) in early June, and had been awaiting a nod from the Department of Telecommunications (DoT) for enhancement of foreign direct investment limit.

As per the merger terms, Bharti Airtel and Vodafone Plc – which currently own 42 per cent each in Indus Towers – were expected to hold 37.2 per cent and 29.4 per cent, respectively, in the merged entity. KKR and the Canada Pension Plan Investment Board were expected to own a combined 6 per cent stemming from their stake of over 10 per cent in Bharti Infratel.

The crucial merger, which is expected to help loss-making telecom companies Bharti Airtel and Vodafone Idea sell stake to raise funds to meet their several funds needs still awaits government approval. Airtel and Vodafone are to pay government about Rs 1.30 lakh crore as AGR dues within the next one month.

Both have filed for review petition in the Supreme Court. A special committee by Bharti Infratel, set up in October, had extended the long stop date to December 24. As the merger is contingent upon receipt of regulatory approvals and fulfilment of other conditions, there can be no assurance that the process can be completed within the extended time-frame, Bharti Infratel had informed the BSE on October 24.

This merger will help Bharti Airtel and Vodafone Group Plc, promoters of Indus Towers, to sell their stake, bring down debt and invest in wireless operations in India. Earlier this month, Reliance Industries Ltd wholly owned subsidiary, Reliance Industrial Investments and Holdings Ltd, entered into binding agreements with Brookfield Infrastructure Partners LP and its institutional partners for an investment of Rs 25,215 crore in the units to be issued by Tower Infrastructure Trust, its tower arm.

This agreement makes Jio the anchor tenant of the tower portfolio under a 30-year master services agreement. RIL is also talking to potential investors to divest stake in its fibre assets. Raising funds by divesting non-core assets has become crucial for telecom companies .