  In this paper we show that local spin-singlet amplitude with d-wave symmetry,
$<|\Delta_{d}(0)|^{2}>$, can be induced by short-range spin correlations even
in the absence of pairing interactions. Fluctuation theory is formulated to
make connection between pseudogap temperature $T^{*}$, pseudogap size
$\Delta_{pg}$ and $<|\Delta_{d}(0)|^{2}>$. In the present scenario for the
pseudogap, the normal state pseudogap is caused by the induced local
spin-singlet amplitude due to short-range spin correlations, which compete in
the low energy sector with superconducting correlations to make $T_{c}$ go to
zero near half-filling. Calculated $T^{*}$ falls from a high value onto the
$T_{c}$ line and closely follows mean-field N\'{e}el temperature $T_{N}^{MF}$.
The calculated $\Delta_{pg}$ is in good agreement with experimental results. We
propose an experiment in which the present scenario can be critically tested.
