New Delhi: The government is committed to meeting the fiscal deficit target of 3 percent for the current fiscal year, interim Finance Minister Piyush Goyal said.

The government will maintain stability in the economy and meet all economic parameters fixed by the government, he said on Monday at an event in New Delhi.

"I can assure that we will meet the fiscal deficit target of 3 percent, despite this being an election year," he said.

Fiscal deficit stood at 53 percent of the Gross domestic product (GDP), broadly in line with the government's revised estimates for 2017-18. The revenue deficit was 2 percent, which amounts to 65 percent of the GDP.

In absolute terms, the fiscal deficit was Rs 5.91 lakh crore, or 99.5 percent, of the Budget estimates.

The government, in the Budget in February, had revised the fiscal deficit target for 2017-18 to 3.5 percent from the earlier estimate of 3.2 percent.