It turned out this had nothing to do with the library as generally requests that have to do with local host fails most of the time. It may be an issue with the system when it comes to local host. In any case, I disabled IPv6 and it still didn't work.
What worked however was rawcap. I realized that when I run rawCap to monitor 127.0.0.1, all calls were going through successfully. It appears something it did rectified the issue. Hope it helps someone who also had the same issue with localhost.