Which one of following is the highest peacetime gallantry award of India?

The correct answer is Ashok chakra.

Explanation:

Gallantry awards in India are broadly classified into two categories: wartime awards and peacetime awards.

1. Peacetime Gallantry Awards: These are awarded for conspicuous bravery, courageous action, or self-sacrifice away from the battlefield (during peacetime).
- Ashok Chakra: It is India's highest peacetime gallantry award, equivalent to the Param Vir Chakra (which is awarded during wartime).
- Kirti Chakra: The second-highest peacetime gallantry award.
- Shaurya Chakra: The third-highest peacetime gallantry award.

2. Wartime Gallantry Awards: These are awarded for bravery in the presence of the enemy during war or battlefield operations.
- Param Vir Chakra: India's highest wartime gallantry award.
- Maha Vir Chakra: The second-highest wartime gallantry award.
- Vir Chakra: The third-highest wartime gallantry award.

Therefore, among the given options, the Ashok Chakra is the highest peacetime gallantry award of India.