In recent years there have been many researches trying to understand climate changes in order to mitigate the natural disasters such as droughts, snowfall, floods and so on. In this paper we would like to present detailed literature review about variability of Indian monsoon rainfall based on statistical analysis, modeling and forecasting by various researchers in the past years. The result of this study shows that the variability of Indian rainfall time series explained varies with various tools and techniques used. The rainfall variability plays a major role to predict and develop new rainfall forecasting models in future. It has been observed that the rainfall time series data used in the past is mostly on the broad regions of India and its subdivisions. It will more useful to the farmers and the Indian economy if new statistical models can be developed in smaller spatial and temporal scales.

Keywords : Review, Rainfall, Time Series, Modeling, Drought, Average.