Regulatory Impact Assessment

Regulatory Impact Assessment (RIA) is a systematic process used by governments to evaluate the potential effects of new regulations before they are implemented. It examines the potential social, economic, and environmental impacts of proposed rules, helping to ensure that they are justified and effective. By assessing both the benefits and costs of regulations, RIA aims to improve decision-making, minimize unintended consequences, and enhance transparency. This process helps policymakers choose the best options for addressing problems while considering the implications for businesses, individuals, and society as a whole.