A better option to get regular income via mutual funds is Systematic withdrawal funds.
This funds enable you to get regular income as opted intervals like monthly/quarterly/half yearly/yearly.
Example you chosen 25000 per month regular income on 1st day, received via using SWP.
SWP gives you the option to choose option regular income for capital gains, kept the principle amount invested.
As chosen option, frequency and amount, units are sold prior to selected intervals and transfer to your given respective bank account. SWP, can be kept continue till the time units are available in the scheme.