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Aligning the text to the baseline is a common practice for multi-column page designs, like magazines. It makes the text baselines align across columns. So, if you put a ruler on the page at the baseline, they would all line up across columns. This makes for a much cleaner look.
You need to know your leading size to start with. Go to Preferences > Grids, then change the Increment Every number to match your leading value. Once that’s done, go to Indents and Spacing in your paragraph style. Set Align to Grid to All Lines.
Supplemental Links
- Adobe: Aligning Text