Android : Android 4.4.2, L emulator proxy setup

I am trying to get proxy working with the android emulator for versions 4.4.2 and L.

Android 4.4.2

The below command line option works but the boot time of the emulator is high.

-http-proxy http :// 10.0.2.2:8888

Without this option, the emulator boots up 15-20 seconds quicker for me.

Is there a way through which I can set the proxy once the emulator has started?

I have noticed that "com.android.settings_preferences.xml" gets updated when setting the proxy. Is there any way we can utilise this in some way?

Android L

Setting the proxy to 10.0.2.2:8888 does not actually hit my proxy. Has anything changed here? I have not yet researched on this. If anyone knows a quick suggestion would save a lot of time.

Thank you.