New Delhi, July 27 (KNN) Regulatory impact assessments are required by specialised bodies at central and state levels to reach out to the people at the grass root level and arrive at optimal solutions to improve the ease of living conditions, according to experts.

In a webinar organised by the CUTS International and SKOCH Group on 'Making Regulatory Reforms Inclusive and Sustainable', Pradeep S Mehta, Secretary General, CUTS International highlighted that at present there is a coordination failure within the government and processes adopted by the government in reaching out to external stakeholders are sub-optimal.''

''There is a need to institutionalise good practices like regulatory impact assessments which should include women, informal and small entrepreneurs,'' he added.

Sameer Kochhar, Chairman, SKOCH Group, noted that progress is possible only through negotiation and discussion, particularly with stakeholders having differing points of view.

''Implementing a participative policy making process will be key to ensure ease of living,'' he added.

President FICCI FLO, Jahnabi Phookan highlighted the challenges faced by women entrepreneurs in navigating the regulatory ecosystem, while appreciating the support provided by the government to such entrepreneurs.

Challenges with regard to accessing collateral free loans, market linkages, information asymmetry about government schemes and capacity building were emphasised.

She said that supporting traditional and scalable businesses championed by women entrepreneurs would go a long way in enhancing growth and ease of living of citizens.

Ajay Shankar, former Secretary, Department of Industrial Policy and Promotion, stated that our regulatory system has been a hangover from colonial administration and that the process of consultation with stakeholders is extremely weak and is captured by those who are relatively privileged.

He stressed that there is a need to create a transparent and publicly accessible inventory of regulations and institutionalise practices like cost benefit analysis in letter and spirit to take into account perspectives of all stakeholders.