"I am really very happy. I am obliged that the government has recognised my father-in-law's work. I am extremely happy," said Akshay, who is married to Rajesh Khanna's elder daughter Twinkle.
The awards were announced Friday.
Rajesh Khanna, fondly known as Kaka, began his career with "Aakhri Khat" in 1966. In a career spanning five decades, he became a superstar like no other with hits like "Aradhana", "Do Raaste", "Safar" and "Anand".
He passed away in July 2012 following prolonged illness. He was 69.
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