No, this is not Amitabh Bachchan. He is Shashikant Pedwal. An actor and professor in Govt ITI, Pune. His pictures and videos have been making waves on the internet. Shashikant has around 481k followers on Instagram. He often shares video of him dancing and lip-syncing on Amitabh Bachchan's hit songs and dialogues.
Have a look at the pictures and videos: