Vairagya means not having bondage or being free from subordination. It is considered an important part of self-realization and attainment of salvation in religious and spiritual culture. When Vairagya is expressed, a person goes beyond attachment to honour, relationships, pleasures, property and faith.
Vairagya is the second wheel along with practice on the path of meditation.

The mind keeps running towards this world made up of the objects of the five senses. If you are sitting quietly, whether your eyes are open or closed, see where your mind goes? Your mind rushes to see something, you want to see some scene, some person. Similarly, the mind keeps running towards smelling, tasting, hearing or touching something or thinking about something read or heard. The desire for any such experience does not allow you to remain in the present moment. Even if for a few moments, you say that no matter how beautiful the view is, I have no interest in seeing it, no matter how delicious the food is, There is no time yet. And right now I have no interest in eating, no matter how beautiful the music is, right now I have no interest in listening to it, no matter how beautiful a touch is, I have no interest in feeling it either.
Vairagya consists in freeing one’s senses from this craving and passion for sensual objects, even if only for a few moments. Even if only for a few moments, capturing the mind from material sensual pleasures and establishing it in oneself. This is renunciation. This is the second important requirement of the path of meditation. Whenever you want to meditate deeply, your mind should be in detachment. Meditation is not possible without dispassion, even meditation without dispassion will not give you relaxation. The trapped mind gets tired of chasing desires one after another. You look back at all your desires, have they ever given you any comfort when fulfilled? No, they have given birth to some other desires only. Then the mind gets engrossed in these arising desires, then these desires also do not give any satisfaction but awakens another hope.

In this way you ride a swing going round and round which goes nowhere. You feel as if you have walked far away but you reach nowhere. Life becomes such a race in pursuit of desires in which even while running, we reach nowhere. The mind which is full of desires cannot meditate.
For example, the mind always keeps running towards this world made up of 5 senses. He constantly desires to see a beautiful person, to eat good food or to enjoy any other luxury, but have you ever felt that your mind is sitting at peace after the fulfillment of your desires? He puts one desire after another in front of you. Detachment is a state in which we give up attachment to the garbage our mind is chasing. We have to know through meditation what is garbage in life. Renunciation is important to attain meditation and renunciation. Vairagya should also be such that you feel happy by keeping your mind away from material things. Instead of wallowing in sadness about giving up things. When man realizes that there is nothing for which he wants to live tomorrow. There is nothing without which my life is meaningless. Osho says that renunciation is to free oneself from the object and to travel towards oneself. He says that the mind can take two journeys. Either from you towards the substance, or from the substance towards you. The stream of mind going from you towards matter is called Raga. The name of the consciousness returning towards you from matter is renunciation. If you want to travel towards yourself, then before that you will have to enter renunciation in your life. Without this it is impossible to achieve meditation. We have to give up the slavery of the senses which are pulling us towards the material world and make ourselves the master of the senses, otherwise we can never achieve renunciation.

Vairagya is not only about giving up worldly things. Giving up evil thoughts, jealousy, hatred, greed, pride from one’s mind is also considered as Vairagya. A person who adopts qualities like kindness, faith, honesty, truth-telling, non-violence etc. is also considered as Vairagya. It falls in the same category. Taking care of the family while living in the world, serving one’s old parents is a means that gives more results than renunciation.