Indian oil
A worker sits beside an oil tank at a storage facility of an oil company on the outskirts of New Delhi March 25, 2010. Data on Thursday showed the fuel price index rose 12.68 percent in the year to March 13, flat on the week. Reuters

State-run Indian Oil Corp's share sale will be delayed to the next financial year beginning on April 1, Oil Secretary S. Sundareshan said on Monday.

A decision on the share sale of the country's largest refiner will be taken within three to four months, the company's chairman had said on Friday, a delay of a few months from earlier expectations.

The sale will be part of a government plan to sell stakes in about 60 state-run firms including explorer Oil and Natural Gas as India moves to cut a stubbornly high fiscal deficit and garner funds to spend on schemes for the poor.

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