Abstract The National Education Policy 2020 (NEP 2020) shows an important fundamental change in the Indian education by emphasizing the point of educational values in teaching-learning processes and culture of institutions. While many scholars have examined NEP 2020 through the perspectives of structural, curricular and implementation criteria, so its axiological foundations got limited attention. This article looks over NEP 2020 through the view of axiology, philosophical study of values by examining how the policy’s concept of ethics, morals, constitution, culture and human values work. After overviewing the Indian philosophical traditions, value theory and moral education literature, this report shows the NEP’s new aim of education. It reveals that NEP 2020 provides a core principal of education towards human dignity, social responsibility, democratic living and holistic well-being.