Although the National Education Policy (NEP) 2020 employs the rhetoric of “holistic,” “multilingual,” and “Indian knowledge,” its structural foundations continue to reflect a colonial educational framework. The policy reinforces centralized governance, linguistic privilege, Eurocentric epistemologies, exam-driven evaluation, and top-down state control, thereby limiting its transformative potential. In contrast, a genuinely decolonized education policy would require a redistribution of epistemic authority to local communities, equal recognition of diverse knowledge systems, the dismantling of entrenched linguistic hierarchies, and a shift away from market-driven priorities. This paper argues that without these fundamental shifts, NEP 2020 remains only superficially decolonial.