From what I've read, Kangana Ranaut is one of the leading actresses in the Bollywood movie industry. And AIB (short of All India Bakchod) is a popular comedy troupe. Together they teamed up for what they've called "The Bollywood Diva Song."
As you may know -- or not -- movies made in Bollywood are know for having big musical productions that break out for no apparent reason. (One of my favorite Indian movies, Lagaan, which was nominated for the Best Foreign Language Oscar in 2001 is a wonderfully fun and dramatic epic story during the days of English rule, that's a sort of cross between Romeo and Juliet and Rocky. But even it too has a couple of these lavish musical numbers -- for no apparent reason.)
Basically, "The Bollywood Diva Song" is done in that style, preceded by a scene that sets up it, and is a pretty blunt and scathing indictment of sexism in the Bollywood Industry. It's all cheery with smiles all around -- but the lyrics are not only outspoken, but even a bit crude and scatological in part. Making this all the more shocking is how prurient Indian films are, with (as I recall) men and women not even being allowed to kiss on screen. So, when you hear words like, "...because I have a vagina," I can only imagine the response back in India, and wonder if there's been any backlash to Kangana Ranaut -- or if's been applauded.
My suggestion is to click on the CC button at the bottom of the media player for Close Captioning. For some seasons, a little bit of the video is already captioned in English, so there will be an overlap of English on English for parts of the song, but most of it isn't, so it's best to leave it on and just accept the "double-English" for that section.