Akshaya Tritiya is one of the holiest days in the Hindu calendar. It is also called the Akha Teej, which falls on the third Tithi or Lunar day of the Shukla Paksha or the Bright Half of the Hindu month of Vaishakha. It is considered that this auspicious day of the Hindus is ruled by Lord Vishnu, who is regarded as the preserver in the Hindu Trinity. Akshaya Tritiya is also widely celebrated as the day on which the famous Hindu sage Parashurama was born. The sage is considered to be the sixth avatar of the incarnation of the Lord Vishnu. As per the Hindu mythology, on this holy day, the Treta Yuga started. It is also believed that the River Ganges, which is regarded as the most sacred and the holiest of the Indian rivers, came down from the heaven to flow on the earth.

The meaning of the word ‘Akshaya’ in Sanskrit is the never diminishing and the holy day is considered to fetch success and good luck. Akshaya Tritiya is chiefly regarded as one of the auspicious days when one should buy long term assets which include gold and silver, and various other ornaments, diamond and several precious stones and of course, real estate. There is a legend that any venture which has been started on the divine day of Akshaya Tritiya will continue to grow and bring good luck and prosperity. Thus, it is quite natural to see a number of new ventures of starting a business, breaking ground for construction work, etc.

According to the Muhurta or Hindu electional astrology, three lunar days or Tithis are considered to be most auspicious. These are known as the Sade-Teen Muhurtas. These tithes include; the first Tithi of Bright Half of Chaitra which is marked with the starting of the new year), the tenth Tithi of Bright Half of Ashvina or the Vijay Dashmi, the third Tithi of the Bright Half of Vaishakha or the Akshay Tritiya and the first Tithi of Bright Half of Karttika, which form the Sade-Teen Muhurt. The last Tithi is counted as half and the first three Tithis are regarded as full, which together form the Sade - Teen Muhurt. The Chandra or Moon and Sun are astrologically considered to be positioned at their grandest equal brightness on the holy day. The festival of Akshaya Tritiya is also known as Navanna Parvam. This festival falling on the day of a Rohini Nakshatra is regarded as more auspicious.

With regard to the Hindu mythology, the festival of Akshay Tritiya was that auspicious day when great Veda Vyasa started to dictate Lord Ganesha the epic of Mahabharata. Ganesha is one of the Hindu gods who is elephant-headed and also regarded as one who removes all obstacles and brings wisdom. This auspicious day is celebrated by observing fast and worshipping the Lord Vasudeva by offering rice grains, along with a dip in the Ganga River. The great Vedic scriptures tell the charity done and knowledge gained on this very day is immensely fruitful. On this day people start new business, buy new properties, precious ornaments, etc. In the state of West Bengal in India on this day, a ceremony called ‘HalKhata’ is observed to start the new audit book. Akshay Tritiya is also regarded as a holy day in Jainism as well.