Highlights • Rural livelihoods are intrinsically connected with seasonal climate fluctuations. • Rural livelihoods get more economic benefits from the local ecosystem services (ES) during monsoon and post-monsoon months. • Livelihoods of ES dependent are vulnerable in the pre-monsoon season. • Communities are increasingly diversifying their livelihood strategies to non-ES sectors. • Non-ES dependent livelihoods enjoy increasingly better economic security. …