Drought is a complex hazard which directly affects the water balance of any region. It impacts agricultural, ecological and socioeconomical spheres. It is a global concern. The occurrence of drought is triggered by climatic phenomena which cannot be eliminated. However, its effect can be well managed if actual spatio-temporal information related to crop status influenced by drought is available to decision-makers. This study attempted to assess the efficiency of remote sensing products from space sensors for monitoring the spatio-temporal status of meteorological drought in conjunction with impact on vegetation condition and crop yield. Time series (2000–2019) datasets of TRMM were used to compute SPI and MODIS was used to compute VCI. Association between SPI and VCI was explored. YAI was calculated from the statistical data records. Final observations are that the agricultural crop yield changed as per the climate variability specific to location. The study indicates drought indices derived from remote sensing give a synoptic view because of the course resolution of the satellite images. It does not reveal the precise relationship to the small-scale crop yield. Remote sensing can be an effective way to monitor and understand the dynamics of the drought and agriculture pattern over any region.