Over 60% of the Indian population depends on agriculture, which in turn depends over 80% on annual seasonal rains. The seasonal rains are failing this year so far, with over 27% shortfall till date. That means sharp reduction in food output for this year.
The effect is already seen in terms of steep increase in all the food prices, which have risen by anything between 10% to 60% in the last six weeks. Grains like Dal and wheat and rice have seen sharp increase in prices due to inventory depletion and fear of a major production shortfall.