The word Akshaya, a Sanskrit word, literally means one that never diminishes, and the day is believed to bring good luck and success. It is widely celebrated in all parts of India by different sections of the society irrespective of their religious faith and social grouping. The day is particularly considered auspicious for buying long term assets like gold and silver, including ornaments made of the same; diamond and other precious stones; and the real estate. The legend states that any venture initiated on the auspicious day of Akshaya Tritiya shall continue to grow and bring prosperity. Hence, it is normal to see many of the new ventures, like starting a business, ground breaking for construction etc.., on the Akshaya Tritiya day.
With the mass media and marketing, this day has been taken over by marketers to promote sales and bookings for Gold jewellery, houses and consumer electronics.
The day is also traditionally celebrated as the birth day of the Hindu sage Parashurama, the sixth avatar (incarnation) of Lord Vishnu.
According to the Hindu mythology, on this day the Treta Yuga began, and the Ganges river, the most holy and sacred river of India, descended to the earth from the heaven. Akshaya Tritiya this year falls on 27th of May 2009. The sun and Moon are astrologically believed to be at their most exalted equal brightness on this day. Akshaya Tritiya, the third day of the bright-half of the lunar month of Vaisakha is considered as one of the most sacred days of the year. The word, Akshaya means one that never diminishes. Hence, starting a new activity or buying ornaments on this day is considered to certainly bring luck and success. The religious merit that is acquired by giving gifts on this day becomes inexhaustible.
Many buy new gold jewelry on this day. Most jewel stores stock in new jewelry models for this occasion. “Lakshmi-inscribed” gold coins, diamond jewellery and golden dollars with the pictures of many gods and goddesses. The day gains more importance when it falls on a Monday or under Rohini Star. A dip in the Ganges on this day is considered to be very auspicious. Needless to say, this rare occasion comes this year. Lord Kuber, considered to be the richest, is one amongst the Astadikpalakas. Lakshmi Tantram says that this Lord will himself pray to Goddess Lakshmi on this day.