President Ram Baran Yadav exempted the remaining prison term of the 155 prisoners on the recommendation of the government.
Nepal's first Constituent Assembly had abolished the 140-year-old monarchy through voting during its first meeting on May 28, 2008 turning the erstwhile Constitutional monarchy into a Republican nation.
In his message to the nation on the Republic Day, President Yadav has urged the political parties to accomplish the task of drafting the new constitution within a year as per their promise.
"It has become necessary that we all undergo introspection as to why we can lead historic political movements but fail to institutionalize the achievements of these same movements," he added.
"A constitution should be written incorporating issues like state restructuring, system of governance, electoral system and inclusiveness from our own experience and the history of our own country," he added.
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