“Error occurred in deployment step 'Recycle IIS Application Pool': Cannot connect to the SharePoint site. If you moved this project to a new computer or if the URL of the SharePoint site has changed since you created the project, update the Site URL property of the project.”
This is because we forgot to mention the Site URL where we are going to deploy this solution. After specifying site URL, deployment went well.
Site URL will be your SharePoint site i.e. http://MOSS:2000.
