Hello nitin
Please check this configuration.It works for you.
Server {

listen localhost:8080;

listen [::]:8060 ipv6only=on;

root /var/www;

index index.html index.htm index.py;

location /html/ {

# Disable gzip (it makes scripts feel slower since they have to
complete

# before getting gzipped)

gzip off;

# Set the root to /usr/lib (inside this location this means that we
are

# giving access to the files under /usr/lib/cgi-bin)

#root /var/www;

# Fastcgi socket

fastcgi_pass unix:/var/run/fcgiwrap.socket;

# Fastcgi parameters, include the standard ones

include /etc/nginx/fastcgi_params;

# Adjust non standard parameters (SCRIPT_FILENAME)

fastcgi_param SCRIPT_FILENAME $document_root$fastcgi_script_name;

}

}

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