What is the "Objective" of the policy instruments (MSP, PDS etc.) used by the government?

Both 1 and 2

The correct answer is option 3: Both 1 and 2

The policy instruments like Minimum Support Price (MSP) and Public Distribution System (PDS) used by the government have the following objectives:

1. Protecting the income of farmers: MSP ensures that farmers receive a guaranteed price for their produce, protecting them from price fluctuations and ensuring a stable income.

2. Providing food grains at a subsidised rate to the poor: PDS helps in distributing essential food grains at subsidized prices to low-income and vulnerable populations, ensuring food security.