NEW DELHI -- India's cabinet Friday deferred by a month a decision to privatize four main international airports, a move which was expected to boost a flagging privatization program.

"The issue has been deferred by a month. We have been asked to provide all details on what needs to be done to make these world class airports," Civil Aviation Minister Shahnawaz Hussain told AFP reporters after the meeting.

"This decision does not mean our plans have stalled," he said.

The privatization of the four airports would have raised 160 billion rupees ($3.3 billion).

Sources said the Civil Aviation Ministry had proposed that government retain only a five percent stake in the international airports at New Delhi, Calcutta, Madras and Bombay, giving the rest to private firms.

Only one condition had been proposed -- no foreign airlines or their subsidiaries could bid for the stake.

The move was expected to raise funds to modernize the airports which are facing saturation in traffic capacity.

The pattern of stake sale was expected to be replicated in up to 40 other smaller domestic airports.

India has only one privately-managed airport, in the southern Indian city of Cochin. All other airports are managed by the state-run airports authority of India.

Friday's decision was likely to stymie the government target of raising 120 billion rupees from privatization in the fiscal year ending March 2003. So far it has only managed to raise 50 billion rupees (one billion dollars).

Earlier Friday, India's minister in charge of privatization Arun Shourie voiced his frustration at the slow pace of the program due to political opposition. "If the whole political system is that of a logjam, what can happen?" he said, speaking to television channel AAJ Tak. "Then you sit back and watch China moving ahead."

The privatization program had appeared to have won a reprieve last month when Shourie announced in Parliament that bids were being called for stake sales in two prominent state oil firms after months of dispute.

However, later last month the cabinet postponed a decision to sell Hindustan Petroleum Corp. Ltd. and Bharat Petroleum Corp.

Ltd., saying the attorney general's opinion was needed on the matter.

Finance Minister Jaswant Singh said Friday he favored the privatization program.

"The government must withdraw from sectors where private firms will be more efficient. The scope of government remains largely in social sector and infrastructure," he told a public meeting.