1. Introduction
Drought is a ubiquitous natural disaster that ensues scarcity of water resources, decrease in groundwater storage and reduction in yield of plants. The sustained extreme droughts even intent critically social and monetary problems that have a huge impact on human life. Droughts affect wide range of sectors and thus, it is very difficult to define it in such a way that it will hold good for all the sectors. Hence, droughts are broadly classified into four categories. These are meteorological droughts, hydrological droughts, agricultural droughts and socio-economic droughts. Meteorological droughts are conventionally defined by magnitude of rainfall anomaly. When rainfall occurs lesser than 75 percent of mean value over a particular area [1], it is regarded as meteorological drought in United States whereas India Meteorological Department (IMD) prescribes its initiation for rainfall lesser than 10 percent to long term mean value [2]. The meteorological drought is typically distinguished by meteorological variables viz., precipitation and evapotranspiration [3] and considered as the root cause for all other types of droughts [4].