I've no idea about the rest of India, but in Hyderabad, there's not a lot of discrimination. It actually depends on whom you're dealing with, if the guy in front of you is a radical brahmin, then be prepared, otherwise it's not that much of a problem, I never faced any. When I was in junior college/high school, I was the only muslim in a class of more than 100, after a few months another guy came in from a different section and we never had any problems, Alhamdulilah. I have a few very good hindu friends and we never had any problems with each other. As a side note, hindus that have migrated from suburban districts to the city are actually scared of muslims
Not the terrorist way, but usually we're larger than them and more aggressive and confident, so.... they get intimidated. So, you can safely conclude that there's no discrimination whatsoever with regards to academics, it's all based on merit and money.
Coming to jobs, in the private sector, again there's no discrimination. But, when you come to public sector jobs, it is very difficult for anyone, muslim or non muslim, because of the corruption involved. And you may find a little discernment.
So, it's almost non existent here, with the exception of an odd case here and there. I guess it's because in Hyderabad, hindus and muslims are half and half. Our city along with Aligarh and Lucknow has a large number of muslims. You might hear different stories from the rest of the country where hindus are the majority, probably negative ones, but I have no idea of them.