In the present study, the observed variability of monsoon droughts over India has been examined using a drought monitoring index, namely the Standardized Precipitation Evapo-transpiration Index (SPEI). For calculating the SPEI over different time periods, long term (1901–2010), high resolution, monthly gridded temperature and rainfall data sets have been used. The drought time series shows significant interannual, decadal and long term trends. The analysis suggests a general increase in the intensity and percent area affected by moderate droughts during the recent decades.