To determine which statements about the programme launched by the Ministry of Health and Family Welfare for tackling anaemia in adolescents are correct, let's analyze each statement:

• Statement I: "It entails supervised weekly administration of 100 mg elemental iron and 500 \mug folic acid."
  This statement is correct. The programme focuses on providing weekly supplements of elemental iron and folic acid to adolescent boys and girls to combat anaemia. Supervision ensures proper administration and compliance.
• Statement II: "These weekly iron-folic acid supplements are administered by using a fixed day approach."
  This statement is also correct. A fixed day for supplementation helps maintain regularity and ease in distribution, ensuring that all adolescents receive the supplement at the same time every week.
• Statement III: "It entails supervised administration of Albendazole 400 mg every three months for control of helminth infestation."
  While albendazole administration for deworming is an essential health intervention, it is not directly related to the anaemia control programme portion dealing with iron and folic acid supplementation. Therefore, this statement is unrelated to the specific iron and folic acid supplementary intervention described in the question.

Based on the analysis:

• Statements I and II correctly describe the interventions related to iron and folic acid supplementation.
• Statement III, although relevant to general health programmes, does not fit within the context of the specific anaemia intervention being assessed.

Conclusion: The correct answer is "I and II" because both statements accurately describe the supervised administration of iron and folic acid supplementation using a fixed day approach, integral parts of the Health Ministry's programme.