This may not exactly replace much-demanded Mobile data toggle, but will certainly be welcomed as a very useful app by many of us.
Quick Launcher is an app which is still in Beta and allows some shortcuts to be directly placed in the Windows Phone 8.1 Action Center. Great news is “Cellular settings” to be one among the shortcuts supported by this app for now. As you can see it is already in my action center and I am really loving this option of swiping down to access the cellular settings on my home-screen.
Install the app from here.
Thanks Raunak for the tip. Cheers!!