Look beyond MSP of 1960. A law alone can’t empower farmers.

MSP, conceived in 1960s when India was importing staples, lacks contemporary relevance as India is a food-surplus nation now. MSP, a cost-plus model, ignores market conditions and, hence is mostly dependent on the government. What’s required are solutions such as a Bhavantar-type price difference payment scheme, a legal framework enabling farmers to bargain with trade, a CII-like farmer body, and more.

from Economy-Prime-Economic Times