The veteran actor, 93, was named for the honour Friday.
His daughter said: "Well it comes (very late), for him. It is very important also. We feel he deserves it so, of course, he should have got it (earlier)."
Besides Pinky, Bollywood celebrities like Anil Kapoor and Aadesh Srivastava, too share the sentiment.
"I think this honour has come too late for Pran saheb. I wish he had got it much earlier. But as it is said, 'better late than never'," said Anil.
Composer Aadesh Srivastava, said: "He (Pran) has got this honour very late. I think he is the most deserving person for this. We would have feel more happy if he would have got this honour during his active days, when he was acting.
Actress Chitrangada Singh believes Pran is an "iconic figure" for the younger generation
"I have seen his movies while I was growing up. He played the role of a villain of course, but he is a nice man and an absolute gentleman. He is just the opposite of his onscreen image," she said.