Chand was honoured with Kirti Chakra, the second highest peace-time decoration, for displaying great presence of mind, valour and conspicuous gallantry before making the supreme sacrifice.
His award was handed over by the President to his wife, who received a rapturous clapping from the audience which included Vice President Hamid Ansari, Prime Minister Narendra Modi and former Prime Minister Manmohan Singh, among others.
His daughter, Alka Rai, who had left the nation emotionally devastated as she rose above her grief to shriek an old Gorkha war cry just before his cremation last year, stood up in attention as her mother received the award from the President.
Havildar Tanka Kumar Limbu of the 21 Para, who had taken part in the operation on June 8, last year along the Indo-Myanmar border, was also given Shaurya Chakra.
The same award also went to Hira Kumar Jha, Second-in-Command of CRPF's 7th Battalion, who was killed in an encounter with Naxals in Bihar last year.
Meanwhile, Vice Chief of Navy Vice Admiral P Murugesan was given Param Vishist Seva Medal and Deputy Chief of Army Lt Gen Subrata Saha was given Uttam Yudh Seva Medal.