Sapper Prakash Jadhav and Major Vibhuti Shankar Dhoundiyal of the Indian Army were among those warriors who were posthumously awarded Kirti Chakra and Shaurya Chakra, respectively.
President Ram Nath Kovind, the supreme commander of the armed forces, approved 132 awards to armed forces personnel and members of the paramilitary forces, a statement said.
The awards include two Kirti Chakras, one Vir Chakra and 14 Shaurya Chakras.
Wing Commander Abhinandan Varthaman, who downed an enemy jet in an aerial combat with Pakistan in February and was held captive for three days, has been conferred the Vir Chakra.
Sapper Jadhav, during an operation in November 2018, sustained bullet injuries while fighting terrorists. He was also injured in a petrol bomb attack and succumbed to injuries.
He was also recommended for gallantry award for an operation conducted on October 25, 2018 in which he neutralised a hardcrore terrorist.
In an operation in Jammu and Kashmir, Shaurya Chakra recipient Major Vibhuti Shankar Dhoundiyal displayed "unparalleled courage" in various operations resulting in elimination of five terrorists and recovery of 200 kg of explosive material, his honour citation said.
Of the 14 Shaurya Chakra awardees, eight are from the Army and one from the Navy.
Lance Naik Sandeep Singh, Sepoy Brajesh Kumar, Sepoy Hari Singh, Rifleman Shive Kumar were also conferred the Shaurya Chakra posthumously.
Kirti Chakra is awarded for "conspicuous gallantry otherwise than in the face of the enemy", while Shaurya Chakra is awarded for "gallantry otherwise than in the face of the enemy".