Cabinet Committee on Economic Affairs or CCEA today cleared the IT project Saksham, which will help integrate system of Central Board of Excise and Customs with the GST network before the roll out in April next year. <br/><br/>The implementation strategy for the project will be to ensure readiness of CBEC's IT framework for GST roll out. <br/><br/>The total project cost involved is 2,256 crore rupees, which will be incurred over seven years. <br/><br/>The upgrade of the IT systems will be carried out while keeping the existing taxpayer services running.<br/><br/>Project Saksham will help in implementation of goods and services tax, extension of the Indian Customs Single Window Interface for Facilitating Trade and other taxpayer-friendly initiatives under Digital India and Ease of Doing Business of CBEC.<br/><br/>CCEA also gave its approval of financial assistance of more than 111 crore rupees for Retired employees of Bharat Pumps and Compressors Limited, Allahabad. <br/><br/>The dues such as Provident Fund and gratuity of retired employees will be discharged and outstanding dues of CISF will be cleared. <br/><br/>It also gave in principle approval for strategic disinvestment of the PSU.<br/><br/>It has given its approval to an Indian Consortium for acquiring 23.9 percent stake in JSC Vankorneft and 29.9 percent stake in LLC Taas-Yuryakh from Rosneft Oil Company. Rosneft is the National Oil Company of Russian Federation.