Diwali (also spelled Divali in few countries) or Deepavali[1] is popularly known as the festival of lights. Its an important five-day festival in Hinduism, Sikhism, Jainism, occurring between mid-October and mid-November. For Hindus, Diwali is the most important festival of the year and is celebrated in families by performing traditional activities together in their homes. Deepavali is an official holiday in India, [2]Nepal, Guyana, Trinidad & Tobago, Mauritius, Malaysia, Singapore, Sri Lanka, Myanmar , Fiji , and Suriname.
The name Diwali is itself a contraction of the word "Deepavali" (Sanskrit: दीपावली Dīpāvali), which translates into row of lamps.[3] Diwali involves the lighting of small clay lamps (divas) (or Deep in Sanskrit: दीप) filled with oil to signify the triumph of good over evil. During Diwali, all the celebrants wear new clothes and share sweets and snacks with family members and friends. Most Indian business communities begin the financial year on the first day of Diwali.
http://en.wikipedia.org/wiki/Diwali