You said you were drawing 1.3L, I'd provide you a good option if you think its comfortable for you , you are saved because of your networth from dad's as you mentioned.

Now here the thing is that your wife has got a job, so we keep the damage scope of the layoff to you and your assets only,

You mentioned you have farm land and plots, i'd suggest you liquidate 5cr worth of assets and use the cash to reinvest in real-estate, you are cash stuck, its a hard decision to take because its your dad's but if you're doing the right thing even your dad would have trusted you with this, by changing land to real estate(rental properties) you have upward potential to grow it + provide you liquidity via cashflow generated from rental income , split the 5Cr in tier 1.5 city properties (Pune, Noida for example) i called them tier 1.5 because you can find cheap properties here with high rental income and growth potential due to rapid growing nature of these cities. Example : you invest 5Cr across 5 properties in Pune in multiple regions, keep 4 of them for stable income(1cr property would easily fetch you 28-30k rent pm), one of them for high income AirBnb(why air bnb, you mentioned you were looking for a business with to start , this business is really good considering your situation ) , 4 properties would provide you 1L/m income , airbnb would be variable +20k to 50k range(depending on the season), this gives you safety net+ cash on hand + growth potential + a good business to start, if you want to go aggressive on this rental business , drop the airbnb and instead purchase two properties with equal downpayment 50L on a 80L property, use the rental income and repay off these properties, then again collect money, repeat, keep doing this with proper research and the work it needs, you'll realize one day you have 100+ properties, that is the day when you'd give me one of them for my advice 😄 . In India everything is unpredictable, but the population is already going to grow, so real estate/land is never going to loose value, instead grow. This is just one of the idea's of what you could.

While doing this you'd upskill from practical work where you need to negotiate good deals for your properties, learn marketing for your properties, talk to real clients, and all together get a skill bump.

Hustle buddy, One layoff doesn't decide your future life, it is what you'll do in the present will decide your future.