The term “equity” in education refers to justice and fairness in the allocation of educational resources and opportunities. In order to achieve educational equity, it is necessary to remove the structural obstacles that prevent students from realizing their full potential. Obstacles like socioeconomic inequalities, prejudice, and unequal resource distribution often act as barriers to quality education. In this background, the present chapter will critically analyze a few significant opportunities offered by the New Education Policy 2020, such as three language formulas, privatization, NEP financing, special education zones policy implications, and challenges in implementation. Even though the opportunities and milestones offered by NEP 2020 are irrefutable, apprehensions pertaining to its scope and usefulness also exist, questioning the sanguinity of the policy.