In Sanskrit, ”Akshaya” means ”the never diminishing”
in the sense of prosperity while ”Tritiya” means third.
Akshaya Tritiya is named after ”third lunar day” of the
spring month of Vaishakha in the Hindu calendar.
Akshaya Tritiya is one of the 4 most auspicious
days in the Vedic calendar, the other 3 being Ugadi,
Vijaya Dashami and Balipadyami. Akshaya Tritiya
is also known as Akha Teej and Navanna Parvam.
Akshaya Tritiya is also celebrated as the birthday
of Parashuram, the 6th incarnation of Lord Vishnu.
He reclaimed his land from the sea. Goa and the
Konkan regions are referred to as Parashurama
Kshetra even today.
It was this day that the Pandavas unearthed
weapons that decided their victory over the Kauravas.
It is also believed that Goddess Chamundeshwari killed
Mahishasura on this day. According to the Puranas
this day marks the beginning of the Treta Yug. It is
believed that on Akshaya Tritiya our good deeds are
rewarded multi-fold.This is the reason, why many
people make donations, give alms and Guru dakshina
on this day in the hope of earning goodwill for life.