Gudhi Padva (Marathi: गुढी पाडवा Guḍhī Pāḍavā also known as Ugadhi in
Telugu and Yugadi In Kannada), is the Sanskrit name for Chaitra Shukla
Pratipada. It is celebrated on the first day of the Chaitra month to
mark the beginning of the New year according to the lunisolar Hindu
calendar. This day is also the first day of Chaitra Navratri and
Ghatasthapana also known as Kalash Sthapana is done on this day. The
practice of raising the Gudhi was started by Shivaji Maharaj to welcome
the new year and symbolizes victory "Vijay Dhwaj". Since then this
culture of raising Gudhi's has been followed in and around the strong
holds of the Maratha kingdom.
Being the first day of the first month of a year, Gudhi Padwa is the New Year's Day for Marathi people. This new moon day has special meaning from Astronomy point of view. The Sun is supposed to be in first point of Aries, (Hamal) which is first sign of zodiac and is a natural beginning of spring. Many civilzations have known this. People of ancient Egypt knew this and Nowruz( literally "New Day" ) in Persia is also based on this observation. According to the Brahma Purana, this is the day on which Brahma created the world after the deluge and time began to tick from this day forth. 
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The Story of Vasanta Navaratri
In days long gone by, King Dooshibago was killed by a lion when he went out hunting. Preparations were made to crown the prince Sudarsana. But, King Yudhajit of Ujjain, the father of Queen Lilavati, and King Virasena of Kalinga, the father of Queen Manorama, were each desirous of securing the Kosala throne for their respective grandsons. They fought with each other. King Virasena was killed in the battle. Manorama fled to the forest with Prince Sudarsana and a eunuch. They took refuge in the hermitage of Rishi Bharadwaja. The victor, King Yudhajit, thereupon crowned his grandson, Satrujit, at Ayodhya, the capital of Kosala. He then went out in search of Manorama and her son. The Rishi said that he would not give up those who had sought protection under him. Yudhajit became furious. He wanted to attack the Rishi. But, his minister told him about the truth of the Rishi’s statement. Yudhajit returned to his capital. Fortune smiled on Prince Sudarsana. A hermit’s son came one day and called the eunuch by his Sanskrit name Kleeba. The prince caught the first syllable Kli and began to pronounce it as Kleem. This syllable happened to be a powerful, sacred Mantra. It is the Bija Akshara (root syllable) of the Divine Mother. The Prince obtained peace of mind and the Grace of the Divine Mother by the repeated utterance of this syllable. Devi appeared to him, blessed him and granted him divine weapons and an inexhaustible quiver. The emissaries of the king of Benares passed through the Ashram of the Rishi and, when they saw the noble prince Sudarsana, they recommended him to Princess Sashikala, the daughter of the king of Benares. The ceremony at which the princess was to choose her spouse was arranged. Sashikala at once chose Sudarsana. They were duly wedded. King Yudhajit, who had been present at the function, began to fight with the king of Benares. Devis helped Sudarsana and his father-in-law. Yudhajit mocked Her, upon which Devi promptly reduced Yudhajit and his army to ashes. Thus Sudarsana, with his wife and his father-in-law, praised Devi. She was highly pleased and ordered them to worship her with havan and other means during the Vasanta Navarathri. Then she disappeared. Prince Sudarsana and Sashikala returned to the Ashram of Rishi Bharadwaja. The great Rishi blessed them and crowned Sudarsana as the king of Kosala. Sudarsana and Sashikala and the king of Benares implicitly carried out the commands of the Divine Mother and performed worship in a splendid manner during the Vasanta Navarathri. 
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