[postgresql] Psql could not connect to server: No such file or directory, 5432 error?

I got this error when I restored my database from last pg_basebackup backup file. After that when I tried to connect database(psql), I was getting the same error. The error was resolved, when I updated pg_hba.conf file and wherever "peer" authentication was there I replaced that with "md5" and then restarted postgres services. After that, the problem was resolved.