I tried to search for the basic skills required for starting to learn android application development and many suggested that you need to be familiar with Java , c++ , pearl or php script , xml along with knowledge about usage of graphic resources.
My problem is I know nothing about above languages except for c++ which I've been learning for 2 years in my school.
Now what I want to know is, should I go ahead with learning android application development or is it waste of time to start without learning the other languages mentioned above ?
You must learn java, or you end up using Android NDK (Simple Hello World apps will do), which may end up interfacing with Java later with difficult tasks.
XML is a must learn to create the interface of the application, but it is kind of simple using Eclipse as development platform (having Android-tool installed) drag and drop.
PHP, PEARL you can forget them for the time being unless you want to create a web server for you android apps.
First learn java, after that target to the android. Remember, everything has a way to learn, first thing should comes first. Don't try to take shortcuts, you'll get nothing from it. Java will help you to elaborate your android development experience.