No, Mr. Narayan Murthy should not be made the president. Its just a decorative post and will serve no purpose and all the politcal formalities will be a drain on Mr. Murthy invaluable time.
Besides all his valuable suggestions to improve India will be barked down by the uncivilized parliamentarians.
If anything Mr. Murthy should be made the Prime Minister, or if he has to be the president then we should have a presedential form of democracy where the prez takes the decisions and is not a mere rubber stamp.
