Akshaya Tritiya, the third lunar day of the bright fortnight of the month of Vaishakha, is an auspicious tithi and is celebrated for many reasons in India.
The importance of this occasion is presented in the ancient Puranas of Matsya, Skanda, Bhavishya, and Narada, and also in the Mahabharata. The Puranas enjoin that the religious merits performed on this day become imperishable and, hence, the name ‘Akshaya.’
On this day, people perform auspicious acts like charity, japa, homa, and other forms of austerity. Many merchants begin their new year’s business on this day.
Tradition has it that the day marks the beginning of Treta Yuga and the descent of the Ganga to earth from heaven. The day also marks the advent of Nara-Narayana, Hayagriva, and Parashurama, the divine incarnations of Lord Mahavishnu.
It was on this day of Akshaya Tritiya that Veda Vyasa, along with Ganesha, started writing the Mahabharata.
The day is also significant in Jainism, as Rishabhadeva, the first Tirthankara, took his first alms and ended his yearlong fast on this day when King Shreyansa offered him sugarcane juice.