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Varalakshmi Vratham is a festival to propitiate the goddess Lakshmi, the consort of Vishnu, one of the Hindu Trinity. Varalakshmi is one who grants boons (Varam). It is an important pooja performed by many women in the states of Andhra Pradesh, Karnataka,and Tamilnadu. The Hindu festival going by the name 'Vara Lakshmi Vrata' is celebrated on the Second Friday in the month of Śravaṇā, also called Śawan(in Hindi), which corresponds to the English months of July-August. In 2012 Varalakshmi Vratham Date is 27th July 2012.

Visitors to the hill shrine of Tirupati, after offering worship at the sanctum sanctorum of Lord Srinivasa, circumambulate the shrine and then come to the figurine of Goddess Lakshmi set high up in the wall. She is in standing posture with gold coins pouring out of her hand. They reach up and touch her feet. Even children, too small to reach the image, are lifted up and the ritual is gone through.

Varalakshmi Vratham is peformed by married woman for the well being of all the family members, especially husband, to get progency etc. It is believed that worshipping Goddess Varalakshmi on this day is equivalent to worshipping Ashtalaksmi - the eight goddesses of Wealth, Earth, Learning, Love, Fame, Peace, Pleasure, and Strength.