Jaitley, who is Leader of the Opposition in Rajya Sabha, gets the award for the year 2010, Karan Singh for 2011 and Sharad Yadav for 2012.
The announcement regarding their selection for the award was made way back in March last year.
Vice President Hamid Ansari, who is Chairman of the Rajya Sabha, and Lok Sabha Speaker Sumitra Mahajan, who chairs the Indian Parliamentary Group, will grace the occassion and Prime Minister Narendra Modi will also be present.
When selected for the award, Yadav was a Lok Sabha member from Madhepura, Bihar. Jaitley and Singh are members of the Upper House from Gujarat and Delhi respectively.
The Indian Parliamentary Group had instituted the award in 1994.
The then Lok Sabha Speaker Meira Kumar had constituted an award committee to select the member for the award for the three years.
The executive committee of the group had unanimously accepted the recommendation of the award committee.
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