Certainly, the poem makes gentle fun of the people who cannot speak English properly. Hence, the poem can be considered a satire. However, the intention of the satire is not to make fun, but to correct. The poet shows how Indians have Indianised the English language. Since English is not our native language, it is all right for us to speak it in a manner that is different from the manner of native speakers of English.
However, not all Indians speak English in this manner. There are quite a few Indians who can speak the language in a chaste manner. Perhaps the poet should have taken enough trouble to point out this fact.