Vasant Panchami is the festival that marks the significance of Goddess Saraswati. She is honoured on this day with great festivities and fervour. Goddess Saraswati is the goddess of wisdom, knowledge, music, art and science. Vasant Panchami is also known as Basant Panchami and it occurs every year of the fifth day of the Lunar Eclipse in the Hindu calendar of spring.