Akshaya Tritiya, also known as Akti (In Chhattisgarh ) and Akha Teej (In Gujarat)(In Rajasthan also), is a holy day for Hindus and Jains. It falls on the third Tithi (lunar day) of Bright Half (Shukla Paksha) of the pan-Indian month of Vaishakha and one of the four most important days for Hindus.[3][4]It is an auspicious day of the birthday of Lord Parasurama who is the sixth incarnation of Lord Vishnu. On this day Veda Vyas began to write Mahabharata. Jains celebrate this day to commemorate Tirthankara Rishabhanatha's ending of one-year fast by consuming sugarcane juice poured into his cupped hands.

In Jain and Hindu calendars, some days of the month are absent in counting and some days (tithi in lunar calendars) come extra, but Akshay tritiya is one day which is never "absent" from the lunar calendar.

The word "Akshaya" means the never diminishing in Sanskrit and the day is believed to bring good luck and success. It is believed that if you do charity on this day you will be blessed. On Akshay Tritiya, Mrutika is worshiped.

The day is considered auspicious for starting new ventures: any venture initiated on the auspicious day of Akshaya Tritiya is assumed to grow and bring prosperity. Hence, new ventures, like starting a business, construction, etc. is performed on Akshaya Tritiya.