Lakshmi is the goddess of wealth,fortune, power, luxury, beauty, fertility, and auspiciousness. She holds the promise of material fulfillment and contentment. She is described as restless, whimsical yet maternal, with her arms raised to bless and to grant her blessings.Lakshmi was the daughter of the sage Bhrigu and took refuge in the ocean of milk when the gods were sent into exile. Lakshmi was reborn during the Churning of the Ocean. As soon as the gods saw Lakshmi, they all fell in love with her beauty. Shiva claimed Lakshmi as his wife, but since he had already taken the Moon, her hand was given to Vishnu, whom Lakshmi herself preferred.
The third day of the festival of Diwali (October/ November) is the most important day of Lakshmi puja and is entirely devoted to the propitiation of Goddess Lakshmi. On this very day sun enters his second course and passes Libra which is represented by the balance or scale. Hence, this design of Libra is believed to have suggested the balancing of account books and their closing. Despite the fact that this day falls on an amavasya day it is regarded as the most auspicious.
Shri is the sacred name of Lakshmi. Shri is written atop most documents and spoken before addressing a god, teacher holy man or any revered individual. The word evokes grace, affluence abundance, auspiciousness and authority. When the word is spoken or written an aura of holiness is established. Whatever follows is imbued with divine blessing. Just as the word “Om” is associated with the mystical side of life, Shri is associated with the material side of existence.
Lakshmi Pooja, or the worship of the goddess of wealth, is the main event on Diwali in North and West India. It is extremely important to keep the house spotlessly clean and pure on Diwali. Goddess Lakshmi likes cleanliness, and she will visit the cleanest house first. This is also the reason why the broom is worshiped on this day with offerings of haldi and kumkum (turmeric and vermilion). Lamps are lit in the evening to welcome the goddess. They are believed to light up Her path.
Lakshmi Puja consists of a combined puja of five deities: Ganesha is worshiped at the beginning of every auspicious act as Vighnaharta; Goddess Lakshmi is worshiped in her three forms – Mahalakshmi (the goddess of wealth and money), Mahasaraswati (the goddess of books and learning), and Mahakali; Kuber (the treasurer of the gods) is also worshiped.