Step 1: Understand the question type.
This is an Assertion and Reason question. We check if Assertion A is true, if Reason R is true, and then whether R correctly explains A.
Step 2: Read Assertion A.
A says NEP 2020 proposes a single umbrella body for higher education. NEP 2020 does plan one unified regulator for higher education, called the Higher Education Commission of India. So Assertion A is true.
Step 3: Read Reason R.
R says the aim is to remove all private participation in higher education. This is not correct. NEP 2020 welcomes private and public institutions alike, so it does not want to end private participation. So Reason R is false.
Step 4: Combine the findings.
We have A true and R false. Now we match this result to the options.
Step 5: Check the options.
The option saying both are true is wrong because R is false. The option saying A is false is wrong because A is true. The only fit is A true, R false.
Step 6: Match with the options.
The third option, A true and R false, is correct.
\[ \boxed{\text{A true, R false}} \]