Akshaya means the one who never diminishes. Tritiya is the third day of the bright half of the lunar month of Vaisakha.
Akshaya Tritiya is an auspicious and sacred day for inviting Goddess Lakshmi into our houses to obtain Her blessings. It is considered that projects begun on this day will be eternal.
Traditionally this day marks the beginning of Treta Yuga. It is also the day on which Shri Parashurama, the sixth incarnation of Lord Vishnu, incarnated Himself.
Prasad Rao describes Akshaya Tritiya