Rainfall is usually below average during an El Nino year.
UNICEF has said that about 10 million people under 18, almost a fourth of them being children under 5 years of age, are at risk due to the resultant air pollution.
Increased pollution would thicken the aerosol layer in the troposphere, which may worsen the intensity of droughts plaguing India.
Monsoon rains, the lifeblood for India's farm-dependent $2.6 trillion economy, arrive on the southern tip of Kerala state around June 1 and retreat from the desert state of Rajasthan by September.
El Nino has a strong impact on monsoons in India and it has been used to predict the kind of rainfall that can be expected in a year
There's much more to monsoon rains than the romance of pitter-patter, colourful parasols, puddled roads, mosquitoes, clogged drains and endless traffic jams . The summer rains are critical for keeping the economic engine chugging along in India
Monsoon season delivers about 70 percent of India's annual rainfall and is key to the success of the farm sector, which accounts for about 15 percent of India's $2 trillion economy but sustains nearly two thirds of the country's 1.3 billion people.
The state-run India Meteorological Department on April 18 forecast this year's monsoon rains at 96 percent of the 50-year average of 89 cm.
That jump would help push the country's overall sugar production back near consumption levels after a drop expected in the current crop year, ending Sept. 30, in the wake of a strong El Nino weather pattern that prompted severe drought.
According to the global financial services major, inflation risks are overdone and noted that food inflation is coming off while El Nino is a swing factor and commodity prices are likely to stabilise in 2017, reducing the pressure on imported inflation.
"For 2017-18, inflation is projected to average 4.5 per cent in the first half of the year and 5 per cent in the second half," said the RBI's first bi-monthly monetary policy statement for 2017-18.
CPI inflation is likely to average higher at 5 percent in the current fiscal on expectations of increasing pressure on food prices as well as uptick in global oil and commodity rates, says a Crisil report.
India is likely to emerge unscathed from the El Nino weather pattern as it is expected to set in only during the latter part of the four-month monsoon season, a top weather official said, indicating a timely arrival of crop-nourishing rains.
Indian market galloped to fresh record highs earlier this week after BJP managed to clinch a majority in state election results especially Uttar Pradesh. A clean sweep would ensure a smooth transition of policy reforms of the government.
Probability of an El Nino formation in 2017 has led to some worries about India's monsoon season, but exact impact on rains and crop production will not be solely dependent on this event, says a Nomura report.
The world may witness the comeback of El Nino this September, according to officials at the meteorological department, but the Indian monsoon may escape the impact the weather phenomenon brings with it.
Global wine production this year is expected to be among the lowest in two decades due to climatic events such as El Nino, experts have warned.
The country's weather agency has attributed the downward revision to the delay in La Nina phenomenon.
Although 86 percent of the country has received "normal" and "above normal" rainfall, the figure may go down when withdrawal of the southwest monsoon will begin this week.
Sugar production in Asia is expected to be significantly lower in the 2016-17 sugar season as the 2015 El Nino-induced drought pulled output down to a five-year low, a Rabo Bank report said.
The world's second largest palm plantation company's earnings before interest, taxes, depreciation and amortization fell 41 percent in the second quarter from a year before to USD86 million. Palm product output in the second quarter fell 37 percent to 455,000 tonnes.
According to global financial services major, Bank of America Merrill Lynch (BofA-ML), if rains arrive on time, it would result in a pickup in rural demand, and in turn a consumption driven economy.
Skymet Vice President - Meteorology GP Sharma says the El Nino effect is now close to neutral.
India's 2016/17 wheat imports are expected to surge to their highest in a decade, as a severe drought linked to an El Nino weather event and unseasonal rains cut the harvest.