Unknown Artist
The young princess is seated on a golden chair and is holding a sparkler. Shown in profile, she wears all the customary jewellery made of pearls, subtly highlighting her beauty in this dark night. The smoke from the sparkler has been stylishly rendered by the artist, which coils as it disappears into the air. Behind her stand her five attendants, holding a surahi (a vessel), a morchal (a whisk made made of peacock feathers), candles, a flywhisk, a wine tray, and a pandan (which is a box containing betel leaves and the items which are layered and placed on the betel leaf. The betel leaf is then folded and presented for chewing to freshen mouth).
Everything is taking place during Diwali or Deepavali, a five-day festival that is arguably the most important annual celebration for Hindus. It usually falls around October or November of the Gregorian calendar. Diwali commemorates the legend of Ramayana where Vishnu descended as Prince Ram of the mythical city of Ayodhya and Lakshmi as his wife, Sita. The Ramayana tells the tale of Ram's epic battle to save the kidnapped Sita and their subsequent return to Ayodhya after fourteen years of exile. The subjects of Ayodhya decorated their homes with oil lamps to guide their beloved prince and his wife back to the kingdom and bring them good fortune.
Lakshmi is believed to roam the earth during Diwali and adherents light their homes with oil lamps to welcome her along with her promise of good fortune and wealth. No Diwali is complete without Lakshmi puja or the ritual worship of Lakshmi, usually on the first and the third day. Spending (and recreational gambling) are common during this time of the year, as Hindus believe that Lakshmi will bestow wealth and good fortune upon them.
P.S. The goddess of wealth, Lakshmi, is a favorite subject in art.