The meaning of celebrating festivals is deeply rooted in the Vedic texts, which include the four Vedas, Brahmanas, Aranyakas, and Upanishads. These festivals and rituals were not only a means to celebrate deities and cosmic elements but also served to reinforce the social, spiritual, and cosmic order that the Vedic people believed governed the universe. These events provided a space for communal gathering, reaffirmation of social roles and hierarchies, and the transmission of traditions and knowledge across generations. 

The festivals are not just social or cultural events but were integral to maintaining the cosmic order, ensuring prosperity and purity, and reinforcing the spiritual and social fabric of Vedic and Modern society. 

The economy of Indian festivals since the Vedic era reflects a deep intertwining of religious practices and economic activity. In the Vedic period, festivals were pivotal in reinforcing the socio-economic structure, with rituals and celebrations often aimed at ensuring agricultural prosperity, which was the backbone of the economy. Offerings to deities and elaborate rituals meant to secure the favor of gods for bountiful harvests highlight the direct link between religious practices and economic well being.