The correct answer is option 4, John Kenneth Galbraith.

Option 1, Robert Mondell, is not the correct answer. Robert Mondell is not an economist but a politician who served as the Secretary of the Treasury in the United States.

Option 2, Robert C. Merton, is also not the correct answer. Robert C. Merton is an economist and received the Nobel Memorial Prize in Economic Sciences in 1997 for his work on the theory of continuous-time finance.

Option 3, John F. Nash, is not the correct answer. John F. Nash was also an economist and was awarded the Nobel Memorial Prize in Economic Sciences in 1994 for his contributions to game theory. However, he passed away in 2015 and did not receive the Padma Vibhushan recently.

Therefore, the correct answer is option 4, John Kenneth Galbraith. John Kenneth Galbraith was a renowned Canadian-American economist and diplomat. He was known for his extensive work on economic theory and policy, and for his influential books on economics. He received the Padma Vibhushan, one of India`s highest civilian awards, recently.