The objective of the Minimum Support Price (MSP) is to ensure farmers receive a guaranteed price for their crops, thus safeguarding their incomes from market fluctuations. It aims to stabilize agricultural prices, encourage production, and promote food security. By providing a safety net, MSP incentivizes farmers to cultivate certain crops, helping to balance supply and demand. Additionally, it seeks to reduce rural poverty by enhancing farmers’ purchasing power and improving their standard of living. Ultimately, MSP plays a crucial role in fostering sustainable agricultural practices and supporting the overall economy.