It is a good idea, but personally i dont want it to happen only because my money will be stolen by some of the ministers or others who will be responsible for handling the event. I pay Tax and want my money to be invested in infrastructure, yes i'm not against of it but reserved.
To improve infrastructure and improve the quality of sportspersons in India and win more medals in Olympics and then we can think about bidding for Olympics
Olympics has a reputation for bankrupting cities & countries without generating any corresponding revenue. That money would be better spent at developing Indian infrastructure, which is really needed. IOC has he tendency to suck out everything from the hosts & then taking all the profits. Most of the developed world is not really competing for Olympics any more. Mainly the 3rd world countries. As the IOC says, a sucker is born every minute.