The basic aim of Pradhan Mantri Fasal Bima Yojana is to ........

Economic Affairs Agricultural Finance

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The basic aim of Pradhan Mantri Fasal Bima Yojana is to

Provide irrigation to all un-irrigated croplands of India

Provide insurance cover and financial support to the farmers in case of failure or damage to crops.

Improve the quality of seeds supplied to farmers in order to increase their harvest and incomes.

Provide storage facilities to farmers to protect post harvest losses to crops.

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Explanation:

2nd option is correct.
Pradhan Mantri Fasal Bima Yojana was launched in January 2016. This scheme replaced the existing two crop insurance schemes viz. National Agricultural Insurance Scheme (NAIS) and Modified NAIS and is being implemented since Kharif season of 2016 (June 2016).