Purpose: A well-defined and futuristic education policy is essential for a developing country at the school and college levels due to the reason that education leads to economic and social progress. Different countries adopt different education systems by considering tradition and culture and adopting different stages at school and college education levels to make it effective.

Design/Methodology/Approach: The study has been carried out using both primary as well as secondary data. The primary data has been collected through structured questionnaires and personal interview methods. While secondary data has been collected through various reports, magazines, journals, etc. on the subject for an in-depth study keeping in view the objectives. For testing the hypothesis and analysing the data various statistical tools like mean percentage, and standard deviation techniques and SPSS software have been used.

Findings: Education in Commerce and management must be outcome-based at the graduate level, with a provision for a choice-based credit system (CBCS). In outcome-based education, each programme has specific Program Educational Objectives (PEOs), Program Objectives (POs), and Course Objectives (COs), and student progress is assessed on the basis of their level of accomplishment in each of these areas. This educational system prioritizes the needs of the individual student while addressing societal and business needs. Core Subjects, Electives, including Open Electives, Specialization (major) Electives, and Internships must all be included in the CBCS Curriculum. Theory and practical topics can coexist in core areas. Students should be exposed to a variety of tools and software programmes that are pertinent to the study of commerce and management in practical areas.

Limitations: This study is only concise to the role of NEP 2020 towards skill-based education for commerce and management discipline. It has implications for future research based on the deductive positivist approach.

Practical Implications: Along with routine curriculum reviews, it's critical to roll out new programmes with content created by stakeholder demands. This will guarantee employability and assist in addressing social and industry needs in the shifting business environment. An urgent need exists for the establishment of multidisciplinary programmes in business analytics, financial economics, health economics, and creative and digital marketing. Offering an interdisciplinary approach to commerce and management education not only complies with NEP 2020 standards but also allows students the opportunity to learn in an environment with a variety of educational backgrounds, which supports holistic education.

Originality/Value: The abstract submitted by me is an outcome of my independent and original work. We have duly acknowledged all the sources from which the ideas and extracts have been taken.

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Keywords: New Education Policy, Learning Outcomes-based Curriculum Framework, Skills-based Education, Employment, Self-Reliant.