Google Script Converter
Google India has released a bulk transliteration tool - Script Converter - to allow you to read text in any script you want.
Note that the Google Transliteration service, a similar service from Google, is different as it transliterates live text as you type, while the Google Script Converter does that to an existing body of text or a web page.
The results of this Hindi transliterated page of the lyrics of Jai Ho could be a lot better though - not only does it have a significant number of errors, it also tries to transliterate English words (like “news”) to Hindi.
The tool supports 17 languages - Bengali, English, Greek, Gujarati, Hindi, Kannada, Malayalam, Marathi, Nepali, Persian, Punjabi, Russian, Sanskrit, Serbian, Tamil, Telugu and Urdu.