Labh Panchami is known by different names such as Saubhagya Panchami, Labh Pancham and Saubhagya-Labh Panchami in different regions of Gujarat. The words Saubhagya and Labh refer to good luck and benefit respectively and hence this day is associated with good luck and benefit.
Diwali celebrations in Gujarat come to an end on the day of Labh Panchami and this day is considered very auspicious. It is believed that those who perform Puja on Labh Panchami day will enjoy comfort and good luck in life, business and family.
Shop owners and businessmen in Gujarat start over their business activities on Labh Pancham after Diwali festivities. Hence in Gujarat, Labh Pancham is considered as the first working day of Gujarati New Year. On this day businessmen open new account ledgers, known as Khatu in Gujarati. They write Shubh on left, Labh on right and draw a symbol in the center of the first page.
Rituals during Labh Panchami:
# On the day of Labh Panchami, Sharda Pujan is performed by those who failed to do it on Diwali. Members of the business community open their shops today and also perform puja of their new account ledgers. Businessmen also pray to Goddess Lakshmi on this day to seek Her divine blessings.
# People visit the houses of friends and families. There is also a custom of exchanging sweets as symbolism of the ‘sweetened’ relations between them.
# In some regions, people also worship their books on the day of Labh Panchami to enhance their wisdom and knowledge.
# One must also donate food, clothes, money or other essentials to the poor and needy on Labh Panchami.