The Padma Shri award was posthumously given to billionaire investor Rakesh Jhunjhunwala, who passed away on August 14 of last year at the age of 62.
Among the 106 Padma awardees for the year 2023 are Aditya Birla Group Chairman Kumar Mangalam Birla, late Samajwadi Party patron Mulayam Singh Yadav, educator and philanthropist Sudha Murty, and deceased eminent investor Rakesh Jhunjhunwala.
The Ministry of Home Affairs announced on Wednesday, the eve of the 74th Republic Day. The Padma Vibhushan will be presented to six people, the Padma Bhushan to nine, and the Padmi Shri to 91.
At a formal event conducted at Rashtrapati Bhawan between March and April of this year, the President of India will present the honors.
Rakesh Jhunjhunwala received the Padma Shri for his contributions to commerce and industry.
Investors regarded Jhunjhunwala as India’s Warren Buffet. On August 14 of last year, he passed away in Mumbai’s Breach Candy Hospital from a variety of illnesses, including kidney problems.
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The self-made business tycoon maintained his own portfolio as a partner in his asset management company, Rare Enterprises, since he believed that risk was essential to existence and that, without it, one was nothing.
He remained bullish on domestic stock markets even as Dalal Street and its international colleagues encountered numerous challenges up until his death.
One of the highest civilian honours in the nation, the Padma Awards, are given out in three different categories: Padma Vibhushan, Padma Bhushan, and Padma Shri.
The prizes are granted in a variety of sectors, including art, social work, public affairs, science and engineering, business and industry, medical, literature and education, sports, and civil service, among others.
Awarded for extraordinary and distinguished service are the “Padma Vibhushan,” “Padma Bhushan,” and “Padma Shri,” as well as excellent service in any field.
The Padma Vibhushan will be given to Mulayam Singh Yadav, musician Zakir Hussain, late ORS pioneer Dilip Mahalanabis, mathematician Srinivas Varadhan, and politician S M Krishna. On October 10, Mulayam Singh Yadav, who was 82 years old, passed away suddenly.
He served as Uttar Pradesh’s chief minister from 1989 until 2003, serving three consecutive terms. Among the nine recipients of the Padma Bhushan are Sudha Murty and Kumar Mangalam Birla.
Vadivel Gopal and Masi Sadiyan, two accomplished snake-catchers from the Irula tribe in Tamil Nadu, were among those honoured with the Padma Shri.