According to Hindu puranic literature, Kashyapa, son of Lord Brahma, the creator had four consorts and the third wife was Kadru who belonged to the Naga race of the Pitru Loka and she gave birth to the Nagas; among the other three, the first wife gave birth to Devas, the second to Garuda and the fourth to Daityas. On the Nag Panchami day Nag, cobras, and snakes are worshiped with milk, sweets, flowers, lamps and even sacrifices. Karmic effect come to a person through Rahu and Ketu.
Benefits of Naag Puja :
1.Obstacles and sicknesses will be eliminated and one will have good
health and wealth.
2.One will always encounter good friends and spiritual masters.
3.Accomplish one’s Dharma practice without obstacles.
4.Bring happiness, peace and harmony to one’s family and home.
5.Frees from Problems related to the Rahu/Ketu :ancestors,women,addictions,suicide.