The Fair and Remunerative Price of Sugarcane is approved by the

The correct answer is Cabinet Committee on Economic Affairs.

Step-by-Step Explanation:

1. Understanding Fair and Remunerative Price (FRP):
The Fair and Remunerative Price (FRP) is the minimum price that sugarcane farmers are legally guaranteed to receive from sugar mills for their produce. It is determined under the Sugarcane (Control) Order, 1966.

2. Recommendation vs. Approval:
It is important to distinguish between the body that recommends the price and the body that approves it:
- The Commission for Agricultural Costs and Prices (CACP) analyzes production costs, market trends, and demand-supply dynamics to recommend the FRP.
- The final decision and official approval, however, are made by the Cabinet Committee on Economic Affairs (CCEA), which is chaired by the Prime Minister of India.

3. Conclusion:
Since the question asks specifically which body approves the Fair and Remunerative Price of Sugarcane, the correct authority is the Cabinet Committee on Economic Affairs.