add caption to plot python

txt="I need the caption to be present a little below X-axis"
plt.figtext(0.5, 0.01, txt, wrap=True, horizontalalignment='center', fontsize=12)

from matplotlib import pyplot as plt
import numpy as np

txt="I need the caption to be present a little below X-axis"

# make some synthetic data
x = np.linspace(0, 1, 512)
y = np.random.rand(512)*2.3 + .1

fig = plt.figure()
ax1 = fig.add_axes((0.1, 0.2, 0.8, 0.7))

ax1.set_title("This is my title")
ax1.set_xlabel('X-axis')
ax1.set_ylabel('Y-axis')

# make the edge colors match the facecolors
ax1.scatter(x,y, c='r', edgecolors='face')
# center text
fig.text(.5, .05, txt, ha='center')

# use OO interface    
ax1.set_xlim([0, 1.05])
ax1.set_ylim([0, 2.5])

# resize the figure to match the aspect ratio of the Axes    
fig.set_size_inches(7, 8, forward=True)

plt.show()