What does it do. What are its effects?
maybe raises education. on one of the choices it says there may be some scientific beneifit
Commercialising it has a slight positive influence on your economy.
There are also educational benefits, though this is not obvious as it is expressed only through UN rankings.
I have never banned it in favour of religious education, but it is likely to have a very negative impact on education, possibly some negative economic impacts too.
Personally, I go for the commercial middle option - allowing advertising and private sector involvement.