To determine the correctness of the given statements regarding Social Protection in India, let's analyze each statement individually:

1. Statement 1: "The World Social Protection Report (WSPR) 2024-26 released by the International Labour Organization estimates that India's social protection coverage has doubled from 2021 to 2024." 
   This statement indicates that according to a report by a credible organization, the social protection coverage in India has seen a significant increase over the three-year period. The World Social Protection Report by the International Labour Organization (ILO) is a widely acknowledged source for such data. If the report claims a doubling of coverage, it is likely based on empirical data and analyses. Therefore, this statement can be considered true as per the information provided.
2. Statement 2: "The Ministry of Labour and Employment estimates that nearly 65% of the population are now covered by at least one form of social protection, whether in cash or in kind, through Central Government schemes." 
   This statement mentions an estimate made by the Ministry of Labour and Employment. Official estimates from government bodies regarding policy effectiveness and reach are authoritative. Given the context and the information provided here, the statement holds true if such an estimate has been officially released by the Ministry.

Both statements are independently judged to be accurate based on their respective sources. Statement 1 relies on a report by an international organization (ILO), and Statement 2 is based on an estimate from a government ministry. Therefore, the correct answer is "Both 1 and 2."

Conclusion: Both statements provided are backed by credible sources, affirming that India's social protection coverage has significantly increased, with substantial portions of the population being covered by at least one form of social protection.