Ganguly's election will make him the 2nd India cricketer, after Maharaja of Vizianagaram (Vizzy), to serve in this capacity.
Lakshya, ranked 72nd, had won the Belgian Open in September and reached the finals of Polish Open this year.
India ended the World Youth Chess Championship with one gold and 3 silver and 3 bronze medals.
Kipchoge, 34, covered the 26.2-mile (42.2km) course in the Austrian capital in 1 hour 59 minutes and 40 seconds.
Rohit Sharma became the first batsman to score hundreds in each innings of in his first Test as opener.
Avinash clocked 8 minutes 21.37 seconds to breach the Olympics qualifying standard of 8 minutes 22 seconds.
The event was held as a part of the government's 'Fit India Plog Run' as a tribute to Gandhiji on his 150th birth anniversary.
The TV rights for all ICC events until 2023 belong to Star, who signed an eight-year deal in 2015.
The 22-year-old Haryana lad jumped 26 spots to achieve a career-best ranking of 135 today.
Host Nepal had lifted earlier two editions of the Championship but could not qualify for semi-finals this time.