A meeting of the Union Cabinet was convened here on Wednesday where the decision to confer the honour on Vajpayee and Malviya was taken.
The announcement coincides with Vajpayee’s birthday on December 25 which the government has already declared as ‘Good Governance Day’.
A Bharat Ratna for Madan Mohan Malaviya, freedom fighter and educationist popularly known as ‘Mahamana’, was one of the promises made by Prime Minister Narendra Modi during his election campaigns.
President Pranab Mukherjee said that he is pleased to award Bharat Ratna to late Madan Mohan Malaviya and Atal Bihari Vajpayee.
43 people have been honoured with the Bharat Ratna since its inception, including scientist CV Raman, cricketer Sachin Tendulkar, singer Lata Mangeshkar and politicians C Rajagopalachari.