A dancer (Bharatanatyam, I believe) preparing for a performance. She is applying alta to her feet. You can also see the surya and chandra (sun and moon) ornaments in her hair (surya always is worn on the right).
Though founded many years later, Kalakshetra shared similar principles with Santiniketan. While principally a dance school, a weaving department was established in 1937. Though based on existing styles, particularly in Kanchipuram, the saris were designed by Rukmini Devi and saris based on the designs were known as Kalakshetra saris. The uniform in Kalakshetra and associated schools was the pavadai-dhavani (half-sari) or sari and for men pyjama-kurta or dhoti.
Women who have beautiful limbs, are conversant with the sixty-four arts and crafts (kala), are clever, courteous in behavior, free from female diseases, always bold, free from indolence, inured to hard work, capable of practicing various arts and crafts, skilled in dancing and songs, who excel by their beauty, youthfulness, brilliance and other qualities all other women standing by, are known as female dancers.
Natya Shastra, the ideal qualities of a female dancer