President Dr Yadav is the Supreme Commander-in-chief of the Nepali Army.
Various 21 equestrian skills including show jump, cross tent pegging, horse ball and fire jump were performed on the occasion.
On the occasion, President Dr Yadav gave away prizes to the best performers of the Ghodejatra programmes.
The Ghodejatra is the traditional festival celebrated every year with the belief that a demon named Gurumapa which resided on a tree at the south-eastern corner of Tundikhel used to feed on children from the city. Though the demon was killed by the city dwellers its spirit could still cast jinx on children and so the spirit had be trampled with horseshoes, as per the belief.
Also, food is offered at the foot of the tree later tonight for the same reason.
Vice-President Parmananda Jha, Chairman of Council of Ministers Khil Raj Regmi, Acting Chief Justice Damodar Sharma, ministers, heads of constitutional bodies, high ranking officials of Nepal government, chiefs of security bodies, and distinguished persons were also present to observe the festival.
Similarly, locals from the city and around thronged Tundikhel for witnessing the annual celebration.
The festival is observed on the Chait krishna Aunshi every year in the Kathmandu Valley as per the rituals.
All government offices in the Kathmandu Valley remained closed today as the Government announced a public holiday on the occasion of Ghodejatra.