Akshaya Tritiya, the holy festival is celebrated among Hindus and Jains. Akshaya Tritiya is considered to be an auspicious day to inaugurate new ventures. This year the auspicious day is on April 21. It is also known as Akha Teej, celebrated on the third day of the Hindu month of Vaisakha. It also coincides with Parshurama Jayanti, which is observed as the birth of the sixth incarnation of Vishnu; Lord Parashurama.