Complex sentence: Following the deliberations, Yagnavalkya was praised by all sages for his erudite scholarship of the Vedas and accepted his Shukla Yajurveda as a sacred text worthy of emulation, and Yagnavalka was also declared a Maharishi.
Split into simpler sentences: Following the deliberations, Yagnavalkya was praised by all sages for his erudite scholarship of the Vedas. The "Shukla Yajurveda" was accepted as a sacred text worthy of emulation, and Yagnavalka was also declared a Maharishi.