The Micromax Android One devices were indeed advertised as being part of the Android One program, which was intended to provide a "pure" Android experience and timely updates directly from Google. However, the timing of these updates can vary based on factors such as device specifications and carrier agreements.
According to a statement by Google, the Micromax Android One devices were supposed to receive the Android Lollipop update in "the next few weeks" after its release in November 2014. However, the rollout of the update was delayed due to technical issues.
As of now, it is unlikely that the Micromax Android One devices will receive the Android Lollipop update or any further updates, as they have already reached the end of their official support period. However, you may still be able to update your device using custom ROMs or other third-party tools if you have the technical knowledge and experience to do so.
Regards,
Rachel Gomez