Yes, large scale cutting down of forests can affect the rainfall in the area. Trees absorb water through their roots and release water vapours in the air through transpiration. These water vapours then condense to form clouds. When water droplets (in form of clouds) become big, they fall as rain. When rain falls on the ground, the roots of the trees help water to seep down in the ground. Thus, by cutting down the forests, the entire process of water cycle would get affected, which in turn would result in the reduction of rainfall.