What is the meaning of celebrating New Year?

New Year's Day is the first day of the calendar year, and the first day in the Gregorian calendar, which falls on January 1.

New Year represents the first day of the year according to a particular calendar.  This day is usually celebrated as it represents the end of a previous year and the beginning of a new year that is hoped to be better than the previous one.  In many countries, New Year's is a holiday.