Go and ask any Hyderabadi, what is the dearest to him. He'll surely say "Water". The reason is simple, water is very scarce these days. Not only water, anything that is very rare is dear to people. Now try to guess the meaning of dearth (dear+th).
 
We will say something is dearth, when it's dear to us. Something is dear to us, when it's very rare. So now every Hyderabadi is facing the dearth of water.
 
word: Dearth
meaning: Scarcity, an inadequate amount.
usage: The dearth of talent in India is evident in Olympic games. 
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