We don’t mind a couple of months delay if the update is without bugs. According to earlier reports, Google will be pushing Lollipop Version 5.1 directly, which was also seen on Android One devices launched in Indonesia. Recommended: Why Android One Did Not Do Well in India – What Needs to be Done to Fix It Besides all new material design, new and trendy Android Lollipop will bring several enhanced features and performance improvements. Android one phones will be only devices running lollipop for less than 5,000 INR in India, after the update.
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Update will be rolled out in phases and will take several weeks for the rollout to complete. You can manually check for update from Settings»About Phone»System update.
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“We’ve already started rolling out Lollipop to a small number of phones in India. This is a gradual process and so each week we’ll push the OTA update to more phones selected at random (pro-tip: connecting over WiFi will increase your odds). We thank you again for your patience, and please stay tuned for further updates”, said Caesar Sengupta, VP Android Division, Google. Source