Prime Minister Narendra Modi is chairman of the committee.
Modi has already announced that government will celebrate 350th birth anniversary of Sikh Guru Gobind Singh across the country and has earmarked Rs 100 crore for it.
A mega event is likely to be organised in Patna, birth place of Guru Gobind Singh, later this year or early 2017, a source said.
Former BJP MP Navjot Singh Sidhu is also member of the committee.
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Various Union Cabinet ministers are also part of the panel including Home minister Rajnath Singh, Extrenal Affairs minister Sushma Swaraj, Finance minister Arun Jaitley, Culture minister Mahesh Sharma and Food Processing minister Harsimrat Badal among others.
The committee has prominent personalities from various spheres of life such as defence forces, film industry, corporate sector, arts and sports.
Amitabh Bachchan, Dharmendra and Lata Mangeshkar have been included in this panel, while corporate leaders including Max Group Chairman Analjit Singh, Apollo Tyres Chairman Onkar Kanwal among others are also in the committee.