Indians, especially Hindus, are ardent believers in muhurtam (which means "auspicious time") to perform sacraments, to begin new ventures or to do any good things.
The advent of modern technology and enhanced science knowledge have made no impact on the dedication to muhurtam in Indian society. It has become a feature of Indian life.
Akshaya Tritiya, the third day of the bright half of the new moon of Medam , is considered as the most sacred and auspicious day of the year. Akshaya Tridiya day is between April 14 to May 14. The sun is strongest and exalted from April 14 to May 14. During this period the sun is in exalted position in Aries and the moon is in exalted position in Taurus. The sun, the lord of the planets and the moon, the lord of creativity are exalted, that day and the day become highly auspicious as per Hindu calendar. Those born during April 14 to May 14 are bound to shine in their life. They taste only success in all walks of their life. Those born on Akshaya Tridiya day is not only bound to crown the success but also rule others.
The word Akshay means "never diminishing". The valuables bought or things initiated on this day bring luck and success. Gold or jewellery buying, marriage solemnization, property deal striking, starting new business venture or any good thing done on this day causes success and bring up prosperity. Jewellery shops keep open till twilight to facilitate the buyers as there used to be a heavy rush on that day. In India gold is considered as the symbol of wealth and prosperity.
According to the Puranas (ancient scriptures) the beginning of the Treta Yug was this day. The world has experienced the goodness of the Treta Yuga.
If a fast is observed on Akshaya Tridiya, it results in getting punya (heavenly reward of holy or virtue). Look at a story: There was a poor Brahmin who had a good and beautiful wife. The little amount he gets spends out quickly. No saving and life was difficult. They had no children which compounded their woes. One day, on the direction of his wife, he went to Vasishta Muni (sage) to know the cause of his woes and seek remedy. Muni told he him in his previous life he was very rich and had many children, but was stingy. To equalize the position this time the god made him poor and childless, the Muni added. Then, how he could get a beautiful wife, the Brahmin queried. The Muni replied that he had undertaken 5 days fast in the end of Medam. As a result of this he got good and beautiful wife. The Muni further advised him to undertake fast in the last 7 days of the month Medam with devotion to Lord Krishna. The Brahmin did so. He got sons and became rich.