The much-hyped 'Year of India' in Russia has been postponed at least till June, apparently due to the financial constraints faced by Moscow in the wake of the global economic downturn.
Initially, President Pratibha Patil was to arrive here next week for the inauguration of the year-long India fest, however, Kremlin expressed its inability to receive her in February due to some constraints.
Under the bilateral inter-government agreement, the 'Year of Russia' with a series of cultural events across the country was held last year in India.
The then Russian Premier Viktor Zubkov had visited New Delhi in February 2008 for the gala opening of the year-long Russia fest, which was formally wrapped up during President Dmitry Medvedev's maiden India visit in December last.
According to sources in the Russian Culture Ministry, the money for the festival had been allocated in the state budget, but the amount could be scaled down after Prime Minister Vladimir Putin ordered the Finance Ministry to revise the budget for the current fiscal due to sharp drop in revenues in the wake of oil price slump.
However, the Russia visit of Patil for the inauguration of 'Year of India', could now be materialised only after the general elections in India, Russian officials believe.