SB 8.13.12-In the period of the eighth Manu, among the demigods will be the Sutapās, the Virajas and the Amṛtaprabhas. The king of the demigods, Indra, will be Bali Mahārāja, the son of Virocana.
SB 8.13.14--With great affection, the Personality of Godhead bound Bali and then installed him in the kingdom of Sutala, which is more opulent than the heavenly planets. Mahārāja Bali now resides on that planet and is more comfortably situated than Indra.
SB 8.13.17-In the eighth manvantara, the greatly powerful Personality of Godhead Sārvabhauma will take birth. His father will be Devaguhya, and His mother will be Sarasvatī. He will take the kingdom away from Purandara [Lord Indra] and give it to Bali Mahārāja.
SB 8.13.36–O King, I have now described to you the fourteen Manus appearing in the past, present and future. The total duration of time ruled by these Manus is one thousand yuga cycles. This is called a kalpa, or one day of Lord Brahmā.
Thus end the Bhaktivedanta purports of the Eighth Canto, Thirteenth Chapter, of the Śrīmad-Bhāgavatam, entitled “Description of Future Manus.”
And earlier on in this great Scripture…
SB 8.8.25-The Supreme Personality of Godhead is the father of the three worlds, and His bosom is the residence of mother Lakṣmī, the goddess of fortune, the proprietor of all opulences. The goddess of fortune, by her favorable and merciful glance, can increase the opulence of the three worlds, along with their inhabitants and their directors, the demigods.
PURPORT
According to the desire of Lakṣmīdevī, the goddess of fortune, the Supreme Personality of Godhead made His bosom her residence so that by her glance she could favor everyone, including the demigods and ordinary human beings. In other words, since the goddess of fortune stays on the bosom of Nārāyaṇa, she naturally sees any devotee who worships Nārāyaṇa. When the goddess of fortune understands that a devotee is in favor of devotional service to Nārāyaṇa, she is naturally inclined to bless the devotee with all opulences. The karmīs try to receive the favor and mercy of Lakṣmī, but because they are not devotees of Nārāyaṇa, their opulence is flickering. The opulence of devotees who are attached to the service of Nārāyaṇa is not like the opulence of karmīs. The opulence of devotees is as permanent as the opulence of Nārāyaṇa Himself.
Some Conclusions—We can see from the above texts from SB that Bali maharaja, who took birth in the family of asuras, or demons. was favored by Laksmi, the Goddess of Fortune and Vamana Dev Himself. Later on Indra loses his position as King of Heaven and Bali Maharaja takes it over. as Sarvabhauma the Personality of Godhead removes Indra and gives Bali maharaj the position of King of Heaven.
So one conclusion to reach is this-whatever austerities we perform for some material position, however great or small it may be-it is still-temporary. And even if Krsna Himself gives it to us, He can also take it away.
Damaghosa das