I am beginner in python web development. So, I quickly did all the set up for running cgi scripts in my ubuntu 14.04 OS. I kept hello.py in /var/www/ but when I run that in browser it doesn't look as expected.

Here is 000-default.conf from /etc/apache2/sites-available/
<VirtualHost *:80>
# The ServerName directive sets the request scheme, hostname and port that
# the server uses to identify itself. This is used when creating
# redirection URLs. In the context of virtual hosts, the ServerName
# specifies what hostname must appear in the request's Host: header to
# match this virtual host. For the default virtual host (this file) this
# value is not decisive as it is used as a last resort host regardless.
# However, you must set it for any further virtual host explicitly.
#ServerName www.example.com
ServerAdmin webmaster@localhost
DocumentRoot /var/www/
<Directory /var/www/>
Options Indexes FollowSymLinks MultiViews
AllowOverride None
Order allow,deny
allow from all
AddHandler mod_python .py
PythonHandler mod_python.publisher
PythonDebug On
</Directory>
<Directory /var/www/>
Options Indexes FollowSymLinks MultiViews
AllowOverride None
Order allow,deny
allow from all
AddHandler mod_python .psp
PythonHandler mod_python.psp
PythonDebug On
</Directory>
# Available loglevels: trace8, ..., trace1, debug, info, notice, warn,
# error, crit, alert, emerg.
# It is also possible to configure the loglevel for particular
# modules, e.g.
#LogLevel info ssl:warn
ErrorLog ${APACHE_LOG_DIR}/error.log
CustomLog ${APACHE_LOG_DIR}/access.log combined
# For most configuration files from conf-available/, which are
# enabled or disabled at a global level, it is possible to
# include a line for only one particular virtual host. For example the
# following line enables the CGI configuration for this host only
# after it has been globally disabled with "a2disconf".
#Include conf-available/serve-cgi-bin.conf
</VirtualHost>
# vim: syntax=apache ts=4 sw=4 sts=4 sr noet
Here are the enabled mods:

Hello.py file:
#!/usr/bin/python
print '<html>'
print '<head>'
print '<title>Hello Word - First CGI Program</title>'
print '</head>'
print '<body>'
print '<h2>Hello Word! This is my first CGI program</h2>'
print '</body>'
print '</html>'