Consider the following statements regarding the Pradhan Mantri Fasal Bima Yojana (PMFBY):
1. The scheme provides coverage for post-harvest losses on individual farm basis.
2. Farmers are not required to pay any premium under this scheme.
Which of the statements given above is/are correct?
2 only
Both 1 and 2
1 only
Neither 1 nor 2
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