1. A method for designing a user interface (UI) for an application, the method comprising: receiving a first response from a user comprising user selected first answers to pre-defined questions, wherein the pre-defined questions pertain to requirements of the UI associated with pre-defined user experience parameters, wherein the pre-defined user experience parameters are indicative of user experience for the UI, and wherein a user selected first answer to a respective pre-defined question is indicative of a requirement applicable for the UI with respect to the respective pre-defined question; receiving a second response from the user comprising user selected second answers to the pre-defined questions, wherein a user selected second answer to a respective pre-defined question is indicative of significance to business of the UI with respect to the respective pre-defined question; assigning a significance to interface (STI) weightage to each of the user selected first answers with respect to each of the pre-defined user experience parameters, wherein a STI weightage for a user selected first answer with respect to a pre-defined user experience parameter is indicative of degree of significance of a corresponding requirement with respect to the pre-defined user experience parameter; assigning a significance to business (STB) weightage to each of the user selected second answers, wherein a STB weightage for a user selected second answer to a pre-defined question is indicative of degree of significance to business of the UI with respect to the pre-defined question; computing total actual effective weightage for each pre-defined user experience parameter, wherein total effective weightage for a respective pre-defined user experience parameter is computed based on the STI weightages of the user selected first answers with respect to the respective pre-defined user experience parameter and the STB weightages of the user selected second answers; calculating total maximum effective weightage for each pre-defined user experience parameter, wherein the total maximum effective weightage for a respective pre-defined user experience parameter is calculated based on maximum possible STI weightage for a first set of pre-defined answers for each of the pre-defined questions with respect to the respective pre-defined user experience parameter and maximum possible STB weightage for a second set of pre-defined answers for each of the pre-defined questions; and determining an applicability index for each pre-defined user experience parameter based on ratio of the total actual effective weightage to the total maximum effective weightage for a respective pre-defined user experience parameter, wherein an applicability index for a pre-defined user experience parameter is indicative of relative importance of the pre-defined user experience parameter with respect to other pre-defined user experience parameters for designing the UI for the application.