The American Lung Association has this to say:
If the day's air quality forecast is code orange [AQI of 101 to 150] or worse, adjust your plans for the day. Avoid long periods of activity outdoors. The health effects of pollution are worsened over extended periods of exposure, and by the deep, rapid breathing that comes with exercise. Stay away from high-traffic areas, and do not exercise near those areas. On really bad purple [AQI of 201-300] or maroon [AQI: 301-500] days everyone should try to stay indoors as much as possible.
Those AQI levels and colors come from the US EPA, and use a different scale than the India National AQI. However, having reached the "very poor" threshold under the Indian National AQI system, that would suggest that it's not advisable to go outside for any appreciable amount of time, including for jogging.