The festival marks the end of the Diwali celebrations and is believed to be the day when Lord Ganesha and Goddess Lakshmi, deities associated with wisdom, prosperity, and good fortune, grant their blessings more generously. It is a day considered particularly auspicious for the commencement of new business ventures, the opening of new accounts, and for shopping, as it is believed that such activities will lead to gains and prosperity throughout the year.
On Labh Panchami, businesses and shops often reopen after the Diwali break. Shopkeepers and business owners worship their account books and offices, seeking the blessings of Lord Ganesha and Goddess Lakshmi for success and prosperity. It is also a common practice to send out business-related correspondences, believing that this will lead to fruitful outcomes.
Aside from its commercial significance, Labh Panchami also has a social aspect. People visit friends and relatives to exchange Diwali greetings, as it is considered the last day to do so. This practice strengthens social bonds and community ties.
In terms of rituals, people typically perform pujas at home, offering prayers to Lord Ganesha and Goddess Lakshmi. Traditional sweets are prepared and offered as prasad, and families spend the day together, often engaging in festive meals and activities.
Labh Panchami thus combines spiritual, commercial, and social elements, reflecting the multifaceted nature of Hindu festivals. It underscores the importance of seeking divine blessings in all endeavors and celebrates the spirit of enterprise and community bonding.