The case analyses the impact of introducing fee caps on education services in the Indian state of Gujarat. Prior to 2017, tuition for private sector education in Gujarat was unregulated. The fee charged by these schools was contentious for two reasons – information asymmetry faced by parents and a huge year-on-year increase in the tuition fee. When parents opposed this, the Gujarat government introduced the Fee Regulation Act, 2017 (FRA) to regulate the fee charged by private schools by fixing an upper ceiling on the annual tuition fee at INR 15,000, INR 25,000, and INR 27,000 for the primary, secondary, and higher secondary classes, respectively. The case discusses the impact of this policy on several stakeholders – schools, teachers, parents and students.