May I ask about feasibility of the following circuit?
The circuit you've drawn is called a voltage doubler. It's somewhat easier to see what's happening if it's drawn according to schematic guidelines, with +ve to the top and -ve to the bottom, and rather like a diode bridge rectifier is usually drawn, like this.







simulate this circuit &ndash; Schematic created using CircuitLab

Note that the swing from the AC source charges the +ve rail and the -ve rail alternately. This means the ripple on the differential voltage is at twice the input frequency, just like a full bridge rectifier, not at the input frequency like a conventional half-wave rectifier.  

The circuit, with a minor addition, was widely used back in the bad old days, and has only fairly recently been driven from the market by the twin forces of
a) Power factor legislation for power supply inputs
b) The availability of 'universal input' power supplies

The reason for its popularity is that with the operation of a single pole switch, you could make a rectifier that delivered 340V DC, when driven from either 120v or 240v, as below







simulate this circuit

With the switch open, the 4 diodes act like a conventional full bridge, and give peak voltage across the outputs.

With the switch closed, D3 and D4 operate as half wave rectifiers into C1 and C2, while D1 and D2 take a holiday, they just sit there blocking. The voltage across the outputs is now 2x input peak voltage.

The main technical reason for phasing out this type of supply was its horrible power factor. Once PF legislation began requiring supplies to have PFC inputs, the circuit for doing that could also accommodate operation directly from 120 and 240v supplies without switching. Needless to say, while having the switch open in 120v land meant a temporarily non-working appliance, having it closed in 240v land meant a permanently non-working appliance.