Explanation:

- Rangarajan Panel (Option 4): The panel set up by the Government of India that suggested total decontrol of the sugar industry is the Rangarajan Panel. The committee was chaired by Dr. C. Rangarajan, an esteemed economist, and it recommended the removal of regulations governing the sugar industry to enhance competitiveness and efficiency.

- Sri Krishna Panel (Option 1): Typically associated with various legal and economic issues, but not specifically known for suggesting decontrol of the sugar industry.

- RadheShyam Panel (Option 2): This panel does not have a known connection to sugar industry decontrol and might be fictitious in this context.

- RamSevak Panel (Option 3): This panel is not recognized in major reforms related to the sugar industry and may not exist in this context.

Correct Answer: Rangarajan Panel (Option 4)