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I think largely it is a failed mechanism. It has got children in school but does it impact the learning level is the real question!
https://www.youthkiawaaz.com/2018/08/when-no-retention-policy-has-been-retained/With the no retention policy, students will prefer to leave school and pursue their skills and needs. They will be honing their skills and earning a desired livelihood for sure. For formal sectors, there are enough platforms which can be availed with the help of technology.