Consider the following statements regarding Pradhan Mantri Fasal Bima Yojna: 1.It is being administered by the Ministry of Agriculture and Farmers Welfare. 2.It aims to provide insurance coverage and financial support to the farmers in the event of the failure of any crops. 3.It is currently the largest crop insurance scheme in the world in terms of farmer enrolments. Which of the statements given above is/are correct?

PMFBY Launched in 2016 and is being administered by the Ministry of Agriculture and Farmers Welfare. It replaced the National Agricultural Insurance Scheme (NAIS) and Modified National Agricultural Insurance Scheme (MNAIS). Objectives: •To provide insurance coverage and financial support to the farmers in the event of failure of any of the notified crops as a result of natural calamities, pests & diseases. •To stabilize the income of farmers to ensure their continuance in farming. •To encourage farmers to adopt innovative and modern agricultural practices.