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Could you please tell me, What are the basic criteria's for a drought index?

Friedman (1957) identified four basic criteria that any drought index should meet: 1) the timescale should be appropriate to the problem at hand; 2) the index should be a quantitative measure of large-scale, long-continuing drought conditions; 3) the index should be applicable to the problem being studied; and 4) a long accurate past record of the index should be available or computable.

Friedman, D. G., 1957: The prediction of long-continuing drought in south and southwest Texas. Occasional Papers in Meteorology, No. 1, The Travelers Weather Research Center, Hartford, CT, 182 pp.

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