Actually an aqueous solution of slaked lime i.e calcium hydroxide is prepared and applied on the walls for white washing. This calcium hydroxide on the walls slowly reacts with CO2present in the air and forms a layer of calcium carbonate which gives a shiny finishing to the walls.
Chemical equation :
Ca(OH)2 (aq) + CO2 (g)→ CaCO3 (s) + H2O(l)slaked lime