Special Chief Secretary, Agriculture, IYR Krishna Rao, who is heading the committee, visited the sight.
"We inspected the site and are collecting information from all concerned. A comprehensive report will be submitted to the government very soon," Rao said.
The Crime Investigation Department of Andhra Pradesh police is also investigating the incident.
The fire, which broke out at one of the hangars around midnight on Monday, caused a damage of over Rs 100 crore with the destruction of the chopper meant for the use of the Chief Minister and six aircraft belonging to a training academy, besides aviation equipment and other material.
Since 2008, Begumpet airport is only used for VIP traffic and training purposes.