Putting India First

Putting India First Regulatory Update || Government Relief Package - AGR 01 indus TOWERS Rationalization of AGR: Non-telecom revenue excluded going forward; 80% reduction in License Fee Future Spectrum Auctions: No BG required, Tenure extended to 30 years from 20; Surrender allowed after 10 years; No Spectrum Usage Charge • Structural Reforms • . 100% FDI allowed under direct route 02 03 Procedural Reforms Liquidity Measures • Auction in last quarter of every FY; KYC Reforms • Ease of doing business: self declaration for customs notification for wireless equipment • SACFA clearance for telecom towers: DoT will accept self declaration. 04 Impact of Package • . • • Moratorium of four years in annual AGR payments with NPV protected Option to TSPs to pay the interest amount arising due to the deferment of payment by way of equity Customer concentration risk reduced considerably, though not eliminated. Positive impact to the overall health of the sector, puts more money in the operator's pocket for network expansion and 5G, and as such augurs well for IP1. Operational reforms would reduce TAT for various activities including SACFA. This would propel further investments in the sector since 100% FDI is allowed now. Government's intention is loud & clear and brought long awaited positivity in the sector 7

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