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Regarding the high-level committee for Regulatory Impact Assessment, SEBI Chairman Tuhin Kanta Pandey said, "The committee will convene, with the Chief Economic Advisor as its chair... That committee will provide guidance on conducting regulatory impact assessments. We've already conducted an enablement exercise and established a unit within SEBI, the Department of Economic and Policy Analysis (DEPA). We're establishing a parallel Centre for Regulatory Studies here that will serve as a Centre of Excellence. For that, the search committee is beginning to identify the right people to join... The Finance Minister has also indicated in her speeches and budget announcements that a regulatory impact assessment needs to be conducted; therefore, we are on course to start it."
He added, "There are regulatory impact assessments in other jurisdictions, and we will study them as they are done elsewhere. But we need to develop our own models and research in India, and if we have these, many other research institutes and universities can collaborate, particularly the policy schools, which are interested in how regulations impact. There is an area because there is always a cost of regulation, and I have stressed before that we need to simplify regulation while maintaining its objective."