Hiranyakashyap wanted everybody in his kingdom to worship only him but to his great disappointment, his son, Prahlad became an ardent devotee of Lord Naarayana. Hiaranyakashyap commanded his sister, Holika to enter a blazing fire with Prahlad in her lap. Holika had a boon whereby she could enter fire without any damage on herself. However, she was not aware that the boon worked only when she enters the fire alone. As a result she paid a price for her sinister desires, while Prahlad was saved by the grace of the god for his extreme devotion. The festival, therefore, celebrates the victory of good over evil and also the triumph of devotion.