Hindus are celebrating Akshaya Tritiya, one of the most auspicious days in their calendar. It is the third day in the shukla paksha, or bright fortnight, of the month of Vaisakha.
It is believed that any good deed or investment made on this day will bring lasting prosperity and success. Hemant Jadhav, manager of Mumbadevi Temple, said that the day is associated with Lord Kuber, the deity of wealth, and Lord Vishnu. It is also believed to be the day when the river Ganga descended to Earth, and also the day when Lord Krishna blessed his childhood friend Sudama with wealth.
The Mumbadevi Temple will have an ‘Aam Mahotsav’ by decorating the deity’s altar with over a 1000 dozen hapus, or Alphonso, mangoes. The fruit will be distributed as prasad to devotees on Wednesday evening.The entire day is considered auspicious, and there will be no need to pick a muhurat or best time on Akshaya Tritiya for weddings, housewarming, or the religious initiation of children.
“It is one of the three-and-a-half muhurat. Akshaya means unlimited. Whatever you buy on this day will grow in value and quantity. There are marriages and vastu shanti pujas on the day. Families also perform the Satyanarayana puja on the day,” said Nachiket Kojarekar Bhatt, a priest.The day is also considered a good time for charity and religious activities.
The Karuna Seva Trust, in collaboration with Anam Prem, will give hampers to 250 visually impaired children. Each hamper will have items like a large school bag, bath towel, steel water container, protein powder, dress material, Bluetooth speaker, and a dental and body care kit. The programme was held on April 29 at GH High School, Borivali East. The gift distribution was followed by a cultural programme.”Akshaya Tritiya is such an auspicious day that people buy gold as gifts for themselves and their family members. Our donation is a gift of pure love,” said Rohitesh Haldar from the board of Karuna Seva Trust.
Gold dealers expect gold sales to rise 20% by value but drop 10% by volume or weight.The day is called the ‘Summer Dhanteras’ when people buy gold. Buying gold on Akshaya Tritiya is a tradition to symbolise prosperity and security.Indians buy between 900 to 1000 tonnes of gold annually, and the Indian Bullion and Jewellers Association estimates that 25 to 30 tonnes are purchased on the day alone – 3% of the year’s sale. People believe that gold investments made on this day will bring eternal growth in that class of assets.
Gold prices have shot up by 32% to Rs 96300 for ten grams this Akshaya Tritiya compared to last year when the price was Rs 73008. Gold dealers expect gold sales to rise 20% by value but drop 10% by volume or weight.Surendra Mehta, national secretary, Indian Bullion and Jewellers Association, said that low cartage and lightweight jewellery are expected to be in demand this year.
“Customers have also been booking orders in advance to ensure they are not charged a higher price if gold prices go up on Akshay Tritiya. Jewellers have prepared themselves with freebies and discounts to customers,” said Mehta. Jewellers said sales are likely to be more aggressive in South India than in other parts of India. “Further, the sale of coin and bar is likely to be marginally increased by 12-15% in comparison to jewellery sales,” added Mehta.
