On closer look, as @Kick933 mentioned, it is the initial burst speed for smaller payloads. For bigger file sizes it tapers down to the actual plan speed. The increased burst speed is something that I've seen mostly in BSNL, other ISPs doesn't seem to do that.
But yes, on BSNL, the Cloudflare speed test would mislead the average user. But I certainly appreciate the increased burst speeds and it definitely helps in improving observed browsing speeds.
It seems there are some discrepancies in the results atm. Many people tweeted about that, based on Dev's reply to the tweets it may be fixed in coming days.
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