Lakshmi Jayanti is celebrated to commemorate the birth of Goddess Lakshmi. Goddess Lakshmi is the goddess of wealth and prosperity. It is believed that Goddess Lakshmi was born on Phalguna Purnima during the great churning of milky ocean which is popularly known as Samudra Manthan.
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Lakshmi Jayanti is observed mainly in South India and it is less known in North Indian states. The festival is also celebrated as Madan Purnima or as Vasant Purnima. Goddess Lakshmi provides the relief from the financial crisis.