Design and implementation of automatic evaluation methods is an integral part of any scientific research in accelerating the development cycle of the output. This is no less true for automatic machine translation (MT) systems. However, no such global and systematic scheme exists for evaluation of performance of an MT system. The existing evaluation metrics, such as BLEU, METEOR, TER, although used extensively in literature have faced a lot of criticism from users. Moreover, performance of these metrics often varies with the pair of languages under consideration. The above observation is no less pertinent with respect to translations involving languages of the Indian subcontinent. This study aims at developing an evaluation metric for English to Hindi MT outputs. As a part of this process, a set of probable errors have been identified manually as well as automatically. Linear regression has been used for computing weight/penalty for each error, while taking human evaluations into consideration. A sentence score is computed as the weighted sum of the errors. A set of 126 models has been built using different single classifiers and ensemble of classifiers in order to find the most suitable model for allocating appropriate weight/penalty for each error. The outputs of the models have been compared with the state-of-the-art evaluation metrics. The models developed for manually identified errors correlate well with manual evaluation scores, whereas the models for the automatically identified errors have low correlation with the manual scores. This indicates the need for further improvement and development of sophisticated linguistic tools for automatic identification and extraction of errors. Although many automatic machine translation tools are being developed for many different language pairs, there is no such generalized scheme that would lead to designing meaningful metrics for their evaluation. The proposed scheme should help in developing such metrics for different language pairs in the coming days.