Title:
NATIONAL EDUCATION POLICY (2020) AND ITS OVERALL IMPACT ON COMMERCE EDUCATION AS A DISCIPLINE.

Authors:
Anupriya Bose

Abstract:
National Education Policy (2020) will act as one of the driving forces of its economy, by creating a specialized workforce built on knowledge maximization. The Policy highlighted the many flaws in the educational system and aims to improve this scenario. Certain provisions include: (a) Enabling a student to study one or more specialized areas of interest, across a range of disciplines including professional, technical, and vocational subjects, (b) An Academic Bank of Credit (ABC) will be established to digitally record the academic credits earned from various recognized Higher Educational Institutions so that the degrees can be awarded considering all credits earned in the case of multidisciplinary candidates. It acknowledged the dropout rate in the country and the social stigma against Vocational education and aims to provide a solution, creating a well-rounded workforce for the country’s future. It also highlights the requirement for financial support and curriculum flexibility for students at every level. Devi et al. (2020) explored the knowledge and impact of NEP (2020) on commerce discipline and those affected by it. It established that changes in the education scenario will come with pros and cons of their own and that the positive outcomes should be prioritized for a higher educational standard. Although Devi et al. (2020), studied the awareness and overall impact of NEP-2020, among the stakeholders of the Commerce discipline, they did not gauge the impact that specific new additions to the policy had. There is a need for further research to understand if additions like the Academic Bank of Credits, integrated Vocational courses and Financial Support would help students in their pursuit of a holistic education in Commerce. Although Aithal et al. (2020), conducted an analysis of the NEP2020, they did not analyse the impact it may have. Their suggestions were primarily centred around creating a higher standard for teaching staff in Higher Education Institutions. With a strong focus on STEM subjects throughout and now the developed STEAM focus, Commerce seemed to have taken a back seat in the Indian Education System. With the National Education Policy (2020), the country hopes to maximize the educational potential across disciplines. The study is based on primary data collected. The data collected was analysed using a simple percentage breakdown. The study also uses a Chi-square test to find the efficacy of the new education policy among the respondents. The experience of researcher and far-sightedness is also expressed. The study only shows the perceived impact of NEP (2020), for a comprehensive measure of the policy’s effect on Commerce as a discipline, a follow up empirical study is required. A further study after the complete enforcement of the policy would paint a more accurate picture of its benefits or shortcomings.

Keywords:
Academic Bank of Credits, Integrated Vocational courses, holistic education