According to Hindu mythology, There are many important incidents that implicates Akshaya Tritiya. It marks the birth date of Lord Parasurama who is the sixth incarnation of Lord Vishnu and Goddess Annapurna. Also, it is believed that Lord Ganesha who is known as the God of wisdom began writing the Mahabharata. On the day of Akshaya Tritiya, the Sun and the Moon are at their highest brightness. It is believed that Lord Krishna bestowed wealth and prosperity to his visiting poor friend Sudama. While the Pandavas were in exile, Lord Krishna presented them with Akshaya Patra. The patra would produce unlimited food so that the pandavas would never go hungry. It also marks the day when the River Ganges descended from Heaven to Earth.
Devotees believe that initiating any project or business on this day shall bring them success and prosperity. There is no specific time that is considered bad on this day, any given point of the day is considered to be auspicious. Since Gold is considered to be symbolic to fortune and wealth, most of the Gold shops are flocked on this day. The followers of Vishnu observe fast and distribute fruits, rice, vegetables and clothes to the poor. The devotees of Lord Krishna embalm him with Sandalwood paste as it is believed that the person would reach heaven post his demise. Many devotees also worship Goddess Lakshmi and Lord Ganesha on this day.