National Education Policy (NEP) 2020

• National Education Policy (NEP) 2020 aims to provide quality education for India's economy
• The policy focuses on quality, equity, and integrity in education from schooling through higher education
• Commerce and management education are vital to India's economy, influencing manufacturing, service industries, and finance across all sectors
• Current education policies in India emphasize theoretical aspects, lacking practical training for students to meet global job market needs
• NEP 2020 aims to foster creative potential, skills, and analytical thinking to meet the demands of the global job market
• Curriculum in commerce and management should be redesigned based on outcome-based education

Introduction to National Education Policy

• A national education policy provides a structure for India's education development
• The need for a policy was first expressed in 1964
• In 1964, a 17-member Education Commission, led by D S Kothari, was formed to draft a national education policy
• Parliament approved the first education policy in 1968 based on this commission
• New NEPs are introduced every few decades
• India has had three education policy reforms: in 1968, 1986, and 2020
• The NEP of 1986 was revised in 1992
• The third NEP was released on July 29, 2020

Key Changes and Recommendations

• The NEP recommends significant changes, including opening the Indian higher education sector to foreign universities
• It includes disassembling the UGC and AICTE
• It establishes a four-year multidisciplinary undergraduate program with multiple exit options
• It discontinues the M Phil program
• For school education, the policy focuses on overhauling the core curriculum
• Board exams will be "easier"
• There will be a reduction in syllabus content to focus on "core essentials"
• There will be a focus on experiential learning and critical thinking
• Moving away from the 10+2 structure, NEP 2020 proposes a "5+3+3+4" scheme corresponding to ages 3-8 (foundational), 8-11 (preparatory), 11-14 (middle), and 14-18 (secondary)
• Early childhood education (ages 3-5) is brought under formal schooling
• Mid-day meal programs will be extended to pre-school children
• Students up to Class 5 should be taught in their mother tongue or regional language
• The policy recommends phasing out single-stream institutions
• All universities and colleges should aim to become multidisciplinary by 2040
• The NEP 2020 envisions inclusive, quality education to address India's developmental needs
• Education should focus on both learning and knowing how to learn
• Education reforms aim to integrate quality, integrity, and equity from schooling to higher education

Holistic Education

• The policy emphasizes multidisciplinary and holistic education, integrating arts knowledge into courses
• It stresses theoretical understanding through communication, discussion, debate, research, and interdisciplinary thinking
• Commerce and Management education may need continuous curriculum revisions to foster student creativity and career growth based on changing industrial and societal demands
• Curriculum should be periodically reviewed through Curriculum Conclaves

Stakeholder Expectations

• It is important to involve various stakeholders to understand their expectations and meet the requirements of the education policy
• Commerce and Management education need Outcome-Based Education at Undergraduate and Postgraduate levels with a Choice Based Credit System (CBCS)
• Outcome-based education defines Program Educational Objectives (PEOs), Program Objectives (POs), and Course Objectives (COs)
• Student progress is assessed based on achievement status
• Core subjects can be a blend of theory and practice
• Practical subjects should provide hands-on experience with relevant tools and software
• Open elective courses should offer knowledge and skills from diverse areas for holistic education
• Specialization (major) subjects create a concentration in functional areas
• Problem Based Learning should be integrated for better understanding of business and commerce concepts
• The Department of Commerce, MAHE, has implemented this structure in its curriculums at Undergraduate and Post Graduate levels
• Undergraduate courses should offer specializations such as Accounting, Insurance, Banking, etc., to provide grounding in different business functions
• Incorporating global accounting accreditations like ACCA, CIMA, CMA provides students the opportunity to comprehensive their degree along with a professional accreditation, which will provide them the additional skills and knowledge while they approach the corporate ecosphere
• Involvement of industry partners is vital in program development and design

Implementation of NEP

• The NEP provides broad guidelines but is not mandatory
• As education is a shared responsibility between the Centre and states, implementation requires collaboration
• The government aims to fully implement the policy by 2040
• Adequate funding is crucial, as the 1968 NEP was limited by funding shortages
• Government policies should establish subject-wise boards with members from relevant ministries at both central and state levels to develop operational plans
• The policy will outline actions for various bodies, including the HRD Ministry, state Education Departments, school Boards, NCERT, and others
• Progress will be monitored yearly against established targets

Factors Affecting Policy Implementation

• Overly optimistic expectations regarding costs and timelines
• Implementation across dispersed governance structures
• Lack of cooperation among stakeholders
• Political factors prioritizing short-term outcomes over long-term implementation

Successful implementation of NEP requires

• Creating stakeholder incentives for smooth and uniform execution
• Formulating institutional mechanisms, legal frameworks, policies, and regulatory authority
• Building reliable information repositories
• Developing flexibility across HEIs, regulatory bodies, and government agencies
• Ensuring reliability through transparent actions and stakeholder contributions
• Developing sound management moralities

Review of Literature

• The study analyzes the effectiveness of the new education policy 2020 in achieving established objectives
• The study highlights the overview of National Education Policy 2020 and compares it with existing education policies
• This comparison highlights the drawbacks lined up with existing educational policies and trends expected with the new 2020 education policy
• The study primarily provided suggestions for implementation of new education policy 2020, such as appreciation of faculty article publishing, faculty training and mandatory Ph.D requirements in the education departments
• Other studies examine updates from the Ministry of Education since the last three educational policies
• They also criticize factors contributing to overall development in the education sectors
• The investigation concentrated on the changes implemented by the educational institutions, universities, colleges, etc. for an effective implementation of the National Education Policy 2020

Statement of the Problem

• New educational policies are emerging with numerous challenges for stakeholders, including universities, colleges, schools, educational faculty, and students
• The new educational policy is set to revamp the educational ecosphere in the current year

Study Objectives and Methodology

• To understand the National Education Policy 2020
• To analyze the effect of NEP 2020 on Commerce and Management disciplines
• To compare the outcome of existing NEP and NEP 2020
• To suggest changes required in institutions based on the research design
• The research design used in this study is empirical
• The study focuses on stakeholders in educational institutions located in Bengaluru
• The study includes a sample size of one hundred respondents from Bengaluru

Data Collection and Analysis

• Study used primary and secondary data
• Primary data was collected through a structured questionnaire
• Secondary data was collected through web sources and expert opinions
• Convenient sampling was used to select respondents
• Data was analyzed using percentage analysis and Chi-square tests to determine the effectiveness of the new education policy among teaching faculties and students

Hypotheses

• There are two hypotheses framed to identify the relation between dependent and independent variables
• There is no significant impact of NEP 2020 on stakeholders of commerce and management discipline
• There is a significant impact of NEP 2020 on stakeholders of commerce and management discipline

Study Limitations

• Lack of secondary sources of information
• The study is limited to Bengaluru
• The study is restricted to only 100 respondents
• Time constraints may have also impacted the study
• The results of the study cannot be generalized

Results

• From a sample of 100, most are well educated with experience in teaching
• 84 of the 100 respondents were aware of the National Education Policy 2020 (NEP)
• Of those 84, 44 feel that working with NEP 2020 is easier than the current NEP
• Of the 16 respondents were not aware of NEP 2020: 7 believed NEP 2020 may be easiest
• Still 49 respondents overall feel the process is too difficult

Current NEP Drawbacks

• The National Education policy fails to focus on the carrier growth of students
• It is mainly subject oriented
• The curriculum is based on CBCS
• The current NEP outcome is focused on memorization
• It is not meeting the requirements of the industry
• It is not attracting enough foreign students
• It doesn't allow students to opt in to various disciplines

Important Suggestion

• Stakeholders must enhances study and work to adopt The National Education Policy for the growth of the Indian economy

Chi-Square Analysis

• The chi-square analysis demonstrates that NEP 2020 will significantly impact stakeholders in commerce and management
• Stakeholders should study and understand NEP 2020 to adopt it effectively for India's economic growth

Overall Conclusion

• The study highlights the comparative differences between The National Education Policy and existing NEP
• The comparative study has pointed out The National Education Policy may provide solutions to The Nation's concerns
• Overall, the economic growth of the nation will improve, but the policies need concentration
• A major group of people need to be aware and taught about The National Education Policy for it to be adopted nationwide