The Golden Day
Hindus believe in the theory of "mahurats" or auspicious timings in every step in life - be it to begin a new venture or making an important purchase. Akshaya Tritiya is one such momentous occasion, which is considered one of the most auspicious days of the Vedic Calendar. It is believed, any meaningful activity started on this day would be fruitful.
Once a Year
Akshaya Tritiya falls on the third day of the bright half of Vaishakh month (April-May), when the Sun and Moon are in exaltation; they are simultaneously at their peak of brightness, which happens only once every year. This year it falls on 8th May(thursday).
Akshaya Tritiya, also known as "Akha Teej", is traditionally the birthday of Lord Parasurama, the sixth incarnation of Lord Vishnu. People conduct special Pujas on this day, bathe in holy rivers, make a charity, offer barley in a sacred fire, and worship Lord Ganesha & Devi Lakshmi on this day.
The Golden Link
The word "Akshaya" means imperishable or eternal - that which never diminishes. Initiations made or valuables bought on this day are considered to bring success or good fortune. Buying gold is a popular activity on Akshaya Tritiya, as it is the ultimate symbol of wealth and prosperity. Gold and gold jewelry bought and worn on this day signify never diminishing good
fortune. Indians celebrate weddings, begin new business ventures, and even plan long journeys on this day.
Myths & Legends
The day also marks the beginning of the "SatyaYug" or the Golden Age - the first of the four Yugas. In the "Puranas", the holy Hindu scriptures, there is a story that says that on this day of Akshay Tritiya Vedavyas along with Lord Ganesha started writing the great epic Mahabharata. Ganga Devi or Mother Ganges also descended to earth on this day.
It is also believed that people born during this time shine bright in life. Many luminaries were born during this period: Basaveshwara born on May 4, Ramanujacharya and Adi Shankaracharya on May 6, Swami Chinmayananda on May 8 and Lord Buddha on May 16.