Which of the following statements about the coverage and premium structure under the Pradhan Mantri Fasal Bima Yojana (PMFBY) is/are correct?

1. The scheme provides coverage for both pre-sowing and post-harvest losses.
2. Premium rates for farmers are capped at 2% for Kharif crops and 5% for horticultural crops.
3. The scheme is entirely funded by the Central Government, with no contribution from the State Governments.