Mr Morrison thanked the Indian Australian community for love and care they have shown to their families and all Australians. Mr Albanese said Holi has become a fixture on Australia's calendar and has been a great welcome gift to the country.
Immigration Minister Alex Hawke said he hopes this Holi is filled with joy and colour, and good health, happiness and prosperity in the year ahead.
PM Morrison said the festival of colours holds more meaning this year.
"As we reach the end of a second pandemic year, we can be thankful for the many things that have sustained us — our family, community, and faith," he said.
Mr Mr Albanese wished the community on behalf of the Australian Labor party.
"Just as I wish great joy to the thousands of Australians of Hindu, Subcontinental and South Asian heritage who celebrate Holi, it gives me a deep sense of happiness to see that this great eruption of colour that is the throwing of the gulal (colour) has been embraced by the wider community, too," he said.
Mr Hawke said Holi is also a celebration of love and the healing of relationships.
"It is truly reflective of the unity and strength of our harmonious multicultural communities," he said.
"I extend my thanks for the important role you have all played in Australia's united response to the pandemic and other disasters," Mr Hawke added.
Mr Morrison said Australia is home to people of many diverse faiths who draw great strength and confidence from their beliefs.
"We are the most successful multicultural and multi-faith nation on earth —a beacon that shows what it means to be a liberal, free and democratic people," Mr Morrison said.
"This is especially so for Holi – one of the most important and vibrant events for Indian Australians. This ancient Festival of Colours gathers people together for a joyous celebration.
