AI ecosystem’s Budget wishlist; MSMEs want faster payments

Hello,

It’s time for the Indian education and startup ecosystem to rejoice for Professor V Kamakoti, Director of IIT Madras, has been conferred the Padma Shri for 2026.

Earlier this month, YourStory spoke to Prof Kamakoti who shared his vision for IITM—he wants to make quality IIT education accessible to everyone. 

Through the IITM ecosystem, Kamakoti has also been driving innovation and entrepreneurship, especially in deeptech. 

If you are looking for more inspiration, here's some.

Rahul Mehta, the man who funded eight schools at IITs, believes time, not money, is the real donation one can give. The Bhupat and Jyoti Mehta Family Foundation, named after his parents, has supported more than 100 nonprofits and created pathways for thousands of students. 

If you thought philanthropy was about writing cheques, Mehta thinks of it differently—in terms of  Time, Talent, and Treasure—in that order. 

Moving on from time to another precious commodity. 

The gold rush continues amid global chaos. 

The asset, considered a safe haven, rose to a record-high above $5,100 an ounce on Monday. Prices of the shiny metal have soared over 18% this year.

Lastly, a winter storm is crippling several parts of the United States, causing a few casualties and major disruptions.

On Monday, several Americans braved the biting cold to help neighbours under blizzards of snow. NYC Mayor Zohran Mamdani was also reportedly seen helping stranded motorists.

In today’s newsletter, we will talk about 

• AI ecosystem's wishlist
• MSMEs want faster payments

Here’s your trivia for today: If you have ‘mageirocophobia’, what are you afraid of?

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Union Budget

AI ecosystem's wishlist

Industry experts, founders, and investors expect the upcoming budget to move beyond symbolic gestures and provide the structural plumbing necessary for a sovereign AI ecosystem. 

The AI sector is seeking structural support through predictable public compute, data centre tax relief, power certainty, centralised cyber resilience, government procurement, regulatory clarity, and large-scale AI upskilling.

Key demands:

• A National AI Compute and Innovation Stack that functions like an open public infrastructure.
• Full GST input tax credits on data centre capital assets and a 20-year conditional tax holiday for qualifying developers.
• Regulatory clarity on data ownership, IP protection, and data security.

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Union Budget

MSMEs want faster payments

India’s MSME sector is entering 2026 with cautious confidence and clear expectations from policymakers.

MSMEs are not asking for headline-grabbing schemes. Instead, they want policy execution that reflects how long it actually takes to build, validate, and scale real businesses on the ground.

Major expectations:

• Budget 2026 must move away from short policy windows and offer predictable incentives for product development, R&D, and industrialisation, for up to 10–15 years.
• Stronger enforcement of the 45-day payment framework, backed by automatic interest accrual, mandatory disclosure of MSME dues, and fast-track dispute resolution.
• Further simplification of GST regime through optimisation of rates.

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News & updates

• Dollar index: The US Dollar Index (DXY) has dropped to a four-month low amid speculation of a potential ‘yen intervention’ by the US and Japan. Analysts warn that DXY could face further downside risks. 
• Succession plan: Some shareholders of luxury giant LVMH want clarity on how and to whom CEO Bernard Arnault plans to hand over the reins. Arnault is 76 and yet to pick a successor for the conglomerate, which has over 70 brands, including Dior and Tiffany. 
• Social media ban: France could follow Australia in banning social media for young teens. The law would block access for those under 15 to social networks such as Snapchat, Instagram, and TikTok.

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If you have ‘mageirocophobia’, what are you afraid of?

Answer: Mageirocophobia is an intense, often irrational fear of cooking. Derived from the Greek word ‘mágeiros’ (which means ‘chef/butcher’), it involves fear of making mistakes while cooking or excessive worry about the health effects or taste of the food. 

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