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The ultimate goal is moksha — also called final liberation (mukti) and nirvana. Moksha means freedom from rebirth, and through that, freedom from all suffering forever.
There is much pleasure in svarga (heaven), but when one’s punya (merit) is exhausted, one falls from there and is reborn in the world, and must suffer once again. For this reason, svarga is not the final goal of life. Moksha is.
If moksha is the goal, then the natural next question is: who is the one we ultimately reach — God? Is God one or many?