psycopg2.OperationalError: could not connect to server: Is the server running on host host_name" and accepting TCP/IP connections on port 5439?

I am getting following error while running a small program on pycharm. Here I am trying to fetch data from Redshift cluster.Actully I want to access Redshift from my localhost (window 7) .

import psycopg2
con=psycopg2.connect("Connect_detail....")
cur = con.cursor()
cur.execute("SELECT * FROM 'test1';")
cur.fetchall()
cur.close()
conn.close()

Error

psycopg2.OperationalError: could not connect to server: Connection timed out (0x0000274C/10060) Is the server running on host "host_name (172.xx.xx.xxx)" and accepting TCP/IP connections on port 5439?

I have configured ipv4 and piv6 as well so now I have configuration under the VPC .

172.31.0.0/16     local                     active 
0.0.0.0/0         Internet gateway id       active
::/0              Internet gateway id       active