I have some idea that it is due to some complex calculation, but i want to know about what exactly happens which takes long time than the corresponding encryption process. Any l
How much longer? Do you have any exact details?
Any way, it make sense that decryption is complicated more than encryption, since the encryption it is not in a symmetric way like 123 => abc and abc > 123.
For more details I suggest starting here.
To read about how the calculatio works, this article seems very good one http://www.di-mgt.com.au/rsa_alg.html
RSA Laboratories describes why pretty well
In practical applications, it is common to choose a small public exponent for the public key.
...
With the typical modular exponentiation algorithms used to implement the RSA algorithm, public key operations take O(k^2) steps, private key operations take O(k^3) steps