The error seems to be that git is not installed. If you are using Ubuntu you can install it with the following command:
sudo apt-get install git
What the setup.sh does is to fetch some layers that are require for the building process for example the meta layer. Try installing git and let us know if now works, also make sure to install of the dependencies required.
i have installed the git.
but still the error persists.
t.sunilkumar.mn, what Linux distribution are you using for the build? If you are running behind a proxy I suggest you to read these tips. Also make sure you have a stable connection because it seems git is not fetching anything. Try cloning a file with git to see if fetches it.