The National Education Policy (NEP) 2020 is a revolutionary development for Indian education, emphasising holistic learning, value-based education and peace education. This paper critiques the inclusion of value-based and peace education in NEP 2020. It assesses the role of its various aspects - such as value-based education, emotional intelligence, empathy and social responsibility - in fostering individual, national and sustainable development. Using a multi-methods analysis, this study examines the impact of NEP provisions in school education and higher education. The study highlights that NEP 2020 provides a solid platform and philosophy for value education; but the implementation of value and peace education needs more activities in teacher preparation, curriculum organisation, and assessments. It also underscores the role of experiential and active learning to foster values and peace education among students. It offers policy recommendations for increasing institutional and teacher capacity for integrating value and peace education in the curriculum to effectively support long-term societal change.