Now-a-days, advanced technologies have emerged from the parallel, cluster, client-server, distributed, and grid computing paradigms. Cloud is one of the advanced technology paradigms that deliver services to users on demand by cost per usage over the internet. Nowadays, a number of cloud services have rapidly increased to facilitate the user requirements. The cloud is able to provide anything as a service over web networks from hardware to applications on demand. Due to the complex infrastructure of the cloud, it needs to manage resources efficiently, and constant monitoring is required from time to time. Task scheduling plays an integral role in improving cloud performance by reducing the number of resources used and efficiently allocating tasks to the requested resources. The paper's main idea attempts to assign and schedule the resources efficiently in the cloud environment by using proposed Multi-Objective based Hybrid Initialization of Particle Swarm Optimization (MOHIPSO) strategy by considering both sides of the cloud vendor and user. The proposed algorithm is a novel hybrid approach for initializing particles in PSO instead of random values. This strategy can obtain the minimum total task execution time for the benefit of the cloud user and maximum resource usage for the benefit of the cloud provider. The proposed strategy shows improvement over standard PSO and the other heuristic initialization of PSO approach to reduce the makespan, execution time, waiting time, and virtual machine imbalance parameters are considered for comparison results.