President Pranab Mukherjee will present the awards in the Central Hall of Parliament in the presence of Vice President Hamid Ansari, who is also the Chairman of Rajya Sabha.
Prime Minister Manmohan Singh and Lok Sabha Speaker Meira Kumar will also be present at the function.
While Jaitley, who is the Leader of the Opposition in the Rajya Sabha, will get the award for 2010, Singh is the recipient for 2011 and Yadav for 2012.
The Indian Parliamentary Group had instituted the Outstanding Parliamentarian Award in the year 1994. The award is conferred each year on an outstanding parliamentarian recommended by the award committee and approved by the executive committee of the Indian Parliamentary Group.
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