4.4 kitkat - Rooting the Micromax Canvas A1 Android One Phone (Micromax Canvas A1 AQ4501)

Can anyone share experiences rooting the Android One device Micromax Canvas A1 (Micromax Canvas A1 AQ4501)?

I am looking for a trustworthy way, as far as possible.
Please don't say rooting is inherently risky - I know that. I am still looking for relatively safe technique(s) and using third party software, if that's required, that is known to be generally reliable.

If any one has rooted this device, were you able to upgrade to the latest Android version after rooting? (It runs Kitkat 4.4.4 by default)

Thanks.