Context: India’s current price policy, driven by political expediency, is not consistent with the idea of an MSP as a support price to be invoked only in the event of a price fall.
Key Features of Ideal MSP System: for what it was actually designed for -
Issues in MSP Operation
Way Forward: Ensure broad-based MSP regime
Conclusion: The issue related to Minimum support prices (MSPs) is never the existence of it, however, is whether the MSP system in its current form has played the role that it was designed for