Hi Gaurav,
First, you can avoid the "WARNING" related to host distribution.
Second, regarding the errors you are facing while bitbaking.
Listing down some must have packages required for Yocto on host distribution. So, verify this first. (Execute below commands).
$ sudo apt-get install gawk wget git-core diffstat unzip texinfo gcc-multilib build-essential chrpath socat libsdl1.2-dev xterm sed cvs subversion coreutils texi2html docbook-utils python-pysqlite2 help2man make gcc g++ desktop-file-utils libgl1-mesa-dev libglu1-mesa-dev mercurial autoconf automake groff curl lzop asciidoc
Additional configurations/packages:
$ sudo dpkg --add-architecture i386
$ sudo apt-get update
$ sudo apt-get install g++-5-multilib
$ sudo apt-get install curl dosfstools gawk g++-multilib gcc-multilib lib32z1-dev libcrypto++9v5:i386 libcrypto++-dev:i386 liblzo2-dev:i386 libstdc++-5-dev:i386 libusb-1.0-0:i386 libusb-1.0-0-dev:i386 uuid-dev:i386
$ cd /usr/lib; sudo ln -s libcrypto++.so.9.0.0 libcryptopp.so.6
Also, as per your log (line no. 37 and 1517) it can't find the Kernel source on git repo for imx_3.14.52_1.1.0_ga branch.
Please, share your "local.conf" as well. It will be easier to find out the solution.
Jaymin