The announcement of the decision taken by the Modi government came ahead of the birthday of Vajpayee, who turns 90, and the 153rd birth anniversary of Malviya tomorrow.
"The President has been pleased to award Bharat Ratna to Pandit Madan Mohan Malviya (posthumously) and to Atal Bihari Vajpayee," a Rashtrapati Bhavan press communique said.
The first BJP Prime Minister who was in office between 1998 and 2004, Vajpayee has faded from public life due to age-related illness. He is lauded as a statesman and the moderate face of BJP whose respect for political adversaries was a striking feature of his personality.
As Prime Minister, he has been credited with conceiving the golden quadrilateral infrastructure project and was praised for his bold peace initiative with Pakistan.
Prime Minister Narendra Modi said the conferment of Bharat Ratna on Malviya and Vajpayee was a "fitting recognition" of the services of the "illustrious stalwarts" to the nation.
Describing Vajpayee as one of the greatest communicators that India has ever seen, Union Minister Arun Jaitley said he made his presence felt at the national level and was committed to peace in Southeast Asia.
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