MSP Legal or Not? Fallacy in Its Implementation and Remedies

This article explored importance of MSP in the Indian Agriculture sector, tracing back its origin from 1975 to how it is calculated now, the paper has also tried to tackle the question of giving legal status to MSP by taking in context the available storage capacity and the fiscal cost associated with the whole process. A brief overlook is also taken to understand the fallacies with implementation of current MSP system and ends with some possible complimentary solutions which could work in the direction of rejuvenating the MSP mechanism and making it more effective and holistic in nature.