The Android One smartphones are reportedly receiving the Android 5.1.1 Lollipop upgrade in India. The devices getting the update are Karbonn Sparkle V, Micromax Canvas A1, and the Spice Dream Uno Mi-498.
The subject update comes in 11.8MB file and brings the same build number LMY47V for all three smartphones. The Android 5.1.1 is not a major upgrade, it is released to fix the previous bugs, improved performance and overall stability. Those have not received the update notification, could check it manually by going to settings>about phone> System updates.
There is no word on the roll-out of update for Android One devices in other countries yet.