Step 1: Understanding the Concept:
Regulatory frameworks exist in India to ensure biosafety before any transgenic crop (such as Bt cotton) is commercialized.
Step 2: Detailed Explanation:
The Genetic Engineering Appraisal/Approval Committee (GEAC) is the statutory apex body under the Ministry of Environment, Forest and Climate Change.
It has the mandate to approve the commercial cultivation of GM crops (like Bt cotton) and the import/export of transgenic organisms.
The Insecticides Act committees regulate chemical pesticides, whereas GEAC handles genetically modified crops.
Step 3: Final Answer:
The committee that approves Bt crops is the Genetic Engineering approval Committee, which is option (B).