Step 1: Understanding the Concept:
The question asks to identify India's highest military decoration awarded for valor and courage. Gallantry awards are categorized into wartime and peacetime awards.
Step 2: Detailed Explanation:
The Param Vir Chakra (PVC) is India's highest military decoration, awarded for displaying distinguished acts of valor during wartime. It is the highest gallantry award overall.
The wartime gallantry awards in order of precedence are: Param Vir Chakra, Maha Vir Chakra, and Vir Chakra.
Other Options:
- The Maha Vir Chakra: This is the second-highest wartime gallantry award.
- The Ashoka Chakra: This is the highest peacetime gallantry award, awarded for valor or self-sacrifice away from the battlefield.
- The Bharat Ratna: This is the highest civilian award of the Republic of India, not a gallantry award.
Step 3: Final Answer:
The Param Vir Chakra is the highest gallantry award in India.