The Kali Yuga (the present era) started in the year Pramadi, the month named Sravana, the fortnight named Bahula, and the day called Ashtami. According to the English calendar, this would be described as 20 February 3102 years before the advent of Christ. In order to bring out this aspect of the commencement of the new Yuga on 20 February 3102 B.C., our ancestors have been calling that day "the day of the beginning of a new era (Ugadi)". Since this was the commencing day of a new Yuga, it was called (Y)Ugadi.
When looked at from this angle, we should also learn a different aspect, although it is not very pleasant. This particular day, Ugadi, is also the day on which Krishna gave up his mortal body in a sacred place of pilgrimage called Prabahatsa, near Dvaraka.
From Digest Vol I (a collection of Baba's quotations)
There is no need to wait for a new year to bring new tidings. Every moment is new. Many are wondering what troubles and losses the new year will bring. But the year is not responsible for all our troubles and difficulties. Only our conduct is responsible. If our actions are good, the results will be good. Bad actions lead to bad consequences. People think that good and bad are related to bad time. Not at all. Their thoughts are the cause. Hence, they should develop good thoughts and do good deeds. They should cherish good feelings and associate with good people.
People should realize the preciousness of Time. Most of the time available is wasted by people. This is utterly wrong. Time should be used always for right purposes. That is the foremost duty of every man. Waste of time is waste of life. The Lord of Time protects those who take refuge in Him, even against the Lord of Death, Kaala. Time takes its revenge on those who misuse it. A nation's prosperity is dependent on how people use their time in the performance of good actions.
We will achieve victory in every walk of life when we foster good thoughts and good deeds.
Today is the first day of the New year. From today onward, all devotees must undertake his holy task. Past is passed. Do not think of the future, because it is not in our hands. What is the guarantee that we wil live until tomorrow? Therefore, this present time is very important. Make good use of it. Do not go against your inner self. That is what I tell my children, the students here, "Follow the master." Who is your master? Your inner self is your master. So there is no need for anyone else; follow your own inner self. That is your God. That is your happiness. That is your wealth. That is your peace. That is your everything. Happiness and peace are not outside.