Vairagya refers to our ability to let go of things, to leave them be, as well as to go for a challenge while renouncing the fruits of our labor. We need both action and inaction in our lives to remain balanced, and the practice of vairagya (dispassion) has us abstain from getting too attached. To play it cool, as it were.
Vairagya is very important for the mind to get withdrawn from this illusory world. As long as the mind thinks this world as totally real and it imagines that this world can give me all the happiness and peace that I am looking for, it would not like to give up its imaginations and come back towards the Self. That is why vairagya is very much required. So it is essential that the mind needs to understand that all this world is unreal: “This is transitory. This is not going to give me a permanent happiness or peace”. Like I used to think as a child, “If at all we have the happiness, we must have it for all the 24 hours and 12 months”
Loosening your grip on things makes you a less fearful person. Letting go reminds you that life is temporal and that being able to hold on to anything is an illusion. Enjoyment of the moment is all you have until that moment is gone – so that you may enjoy the next one. Non-attachment lets you love people without gloaming on to them, expecting them to love you in return. In this mental place, fear loosens its grip on you because you enter situations without either anticipation of what will happen or bracing yourself for the worst. Your actions become a true expression of who you are, over being directed by your thoughts of what those actions will give you.