Until now, I had no clue as to why we celebrated ‘Akshaya Tritiya’. I still think its a commercial scam to make people buy gold. Here’s what a few bloggers had to say about the festival;

Vijayan Krishan writes;

Akshaya Tritiya, is a very auspicious day. The significance of the day is attributed to the event of Krishna giving Draupadi the Akshaya Paathiram and Krishna granting Sudama all his wishes. Other than that, this day also marks Lord Parasurama’s appearance, the beginning of Treta Yuga, Pandavas victory in Kurukshetra, the start of Mahabharata scribing and the victory of Goddess Vijaya Chamundeswari over asuras.

Whatever the reason may be, the logical interpretation lies beneath all these matters. As the name denotes, Akshaya is a never ending, never diminishing, unlimited non-stop flow. That means, whatever we start and do on this day, will be with us forever and keep on growing as intended. But why we must strive for worldy affairs for sense gratification, when we know that material world is impermanent? It is more rational to spend this day for devotional purpose, to gain spiritual knowledge and lend divine services that leads us to God.

Mahesh writes;

The day is particularly considered auspicious for buying long term assets like gold and silver, including ornaments made of the same; diamond and other precious stones; and the real estate. The legend states that any venture initiated on the auspicious day of Akshaya Tritiya shall continue to grow and bring prosperity. Hence, it is normal to see many of the new ventures, like starting a business, ground breaking for construction etc on the Akshaya Tritiya Day.
With the mass media and marketing, this day has been taken over by marketeers to promote sales and bookings for Gold jewellery, houses, consumer electronics.

Bharat puts in an economic angle and writes;

On this day, last year a whopping 55 tonnes of gold were sold, which is nearly 5 percent of India’s total gold consumption of 750 million tonnes in a year. To cash on this opportunity banks and retail players in gold jewelry segment have come out with lucrative offers.

However the hidden increase in price of gold fails to be noticed in the mad rush to acquire a little piece of gold. Price rise of 200 rupees have already been reported due to change in marketmen’s tactics to invest in the bullion instead of melting markets.So look out before you buy out !!