I think it will be better to extend lockdown but with better measures.
According to me, agricultural and industrial production should be increased by first of all, testing the lower strata of population i.e. daily wage workers for COVID-19 by the government and giving them temporary jobs in these two spheres where manual power is lacking these days while making the middle class strata stay under lockdown and imposing a special revenue on upper strata income on profit making after a certain income level.
I know it’s difficult to take such steps as the population is huge but it still can be done rather than staying disorganised during lockdown and yet extending it, putting all the pressure on the same very few frontliners. Moreover, final year medical students can also be encouraged to help by granting them stipends particularly for working in hospitals in lockdown days, and some people from the general public can be given responsibility for carrying on the duties of police (under the supervision of police, of course) specially for the purpose of keeping gathering of people anywhere under check.
I know India has a mixed structure of socialist and capitalist economy more tilted towards capitalism but socialist measures are the need of the hour.
A few of these steps have already been taken; I hope it can help.