in simple terms...
senior citizens stay at home. younger ones don't meet them regularly. those who are having comorbidity must work from home and stay at home if possible.
younger generation on its own maintain social distancing and use mask/ gloves etc and continue working or spending its day. no large gatherings must be avoided so as not to have a rapid infection.
if a minimum of 60% of the population becomes +ve asympontinic herd immunity may be achieved. there will be loss of life(s). but its a trade-off as anyways even in lockdown also people are dying.
the only country which is going with a complete herd immunity model is Sweden. the whole world is watching her and taking notes of the things happening there. but as such, she has a very science-oriented culture and a couple of other things.
I think herd immunity is not apt for India. The virus doesn't come with a rule that it would go back after 60% of population reached. It's just figurative assumptions. Even one carrier patient, even asymptomatic, can spread the virus to the uninfected. we cannot say "some deaths will happen" on a light way. We have '10.4 crore' elder citizen of above 60 years age as of 2011. We don't want to see even 1% of it succumb. Even 0.01% of total population is 1.3 lakhs...
The experience till now shows that this virus can be successfully treated with proper treatment in healthy patients. And on vulnerables, some aggressive measures should be needed like plasma therapy; i'd still suggest it. Isolating the hotspots and treating the vulnerable aggressively would reduce the burden on whole country. Even though it has limitation, the burden on the system won't be there. The protective measures should be there for some time, like social distancing, hygiene, contact tracing etc, which would avoid overcrowding hospitals in my view. In time, we'd definitely win this war.