Regulatory Impact Assessment (RIA)

Regulatory Impact Assessment (RIA) is a systematic process used by governments to evaluate the potential effects of proposed laws or regulations before they are implemented. It aims to identify the costs, benefits, and possible alternatives to ensure that regulations are effective, necessary, and proportionate. By assessing economic, social, and environmental impacts, RIAs help policymakers make informed decisions that maximize positive outcomes while minimizing negative consequences. This process promotes transparency, accountability, and better governance by ensuring regulations serve the public interest efficiently.