Guru Purnima is that day of the year when the Hindus do all sorts of prayers and performs Pujas to show their love and respect for their teacher or Guru. Guru is such a person who has the ability to change a person with his power of spiritualism and knowledge. In the ancient times after a certain age the boys and girls were sent to the Guru to attain knowledge. They used to stay with the Guru and got all the knowledge that he shared and in this way the disciples became good people in the society.
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As per the Hindu shastra Guru Purnima is the day when Guru Vyas was born. Guru Vyas as we all know is the writer of the four Vedas, the Mahabharata and the 18 puranas. Apart from Hindus this festival is also celebrated by the Buddhists and the Jains too. The Buddhists have the notion that this day was the day when Lord Buddha migrated to Saranath with his 5 disciples from Bodhgaya. On this day the Buddhists read the various books that tell more about Lord Buddha. This was also the day when Lord Buddha delivered his first sermon. That is why the Buddhists celebrate this day like the Hindus and the festival that results out of this is very good to see.