HEADLINES

• North Korea's leader, Kim Jong-il, who ruled the country for 17 years, dies at the age of 69
• Jayalalithaa expels long time aide Sasikala and 12 others from AIADMK
• Lokpal bill to be discussed by the cabinet today
• Russia's court (a court in Siberia) deciding if to ban the Bhagwat Gita; uproar in Lok Sabha over the issue
• M.S Swaminathan, father of the green revolution and Magsasay award winner to be awarded the Dr.Pinnamaneni and Smt.Seethadevi Foundation Award
• Food Security Bill cleared by Cabinet, to be introduced in Parliament in next two days

NATIONAL NEWS

• Govt hopes that majority in the parliament will accept the new Lokpal bill
  • Parliamentary affairs minister Pawan Bansal said that the Govt was hopeful that the Lokpal Bill would be accepted by a majority of the parties in the parliament. He also admitted that the revised bill may not be acceptable to all but hopes that a majority accepts it;
  • Explaining that the number of changes to the existing bill in parliament were too many and therefore a new bill was introduced;
  • He cited the example of the Companies Bill 2009 which was introduced again in 2011 after more than 170 amendments were undertaken;
  • Introduction of a new bill would involve procedural issues. It would need to be circulated to all Mps at least 2 days in advance and could be introduced only 5 days after circulation. However, the speaker can waive the required period of 5 days;
  • With the current session of parliament scheduled to end of December 22, the Govt has already requested the members to be ready for another day of parliament. Once the lokpal bill is passed in the Lok Sabha it will then proceed to the Rajya Sabha for approval.
• UPA-BJP consensus on Pension Fund Authority Bill
  • The Govt has agreed to allow 26% foreign direct investment in the management of pension funds. Apart from the FDI cap, the other important areas of agreement was the freedom to choose various options to be given to those contributing to the fund. Each individual will be able to opt for investment of his contributions entirely in Govt securities, where returns are modest but investment is secure, or in more risky markets which could give higher returns, or even a mix of both;
  • Leader of the LS, Pranab mukherjee conferred with the BJP leaders to iron out differences and an agreement has been reached for the passage of the Pension Fund Regulatory and Development Authority Bill. However, there is a question mark if the bill will be passed this winter session of parliament.
• India's Hypersonic Vehicle ready for Ground Tests
  • Defence Research and Development Laboratory is aiming to build a Hypersonic Test Demonstration Vehicle by 2014 which will cross 40km in 20 seconds. Combustion in the engine will occur at 1.2km/sec. The likely altitude would be 32km and Mach number 6.5;
  • The project was first formed in 2005 and is now confirmed that a test for a 600 second, 1500km range is also taking shape. The first aerodynamic wind-tunnel tests were conducted in in Israel in 2007 and in Russia in 2009 as India does not have a facility. India is the second country to propose such a flight, the first being US which launched X-43 and X-51. France is also planning a similar program by 2015.
• Parliament remembers Goa martyrs
  • Parliament on Monday paid tribute to freedom fighters of Goa and Daman and Diu who fought for freedom from Portuguese rule 50 years ago. Goa, Daman & Diu were liberated by the Indian Armed Forces from Portuguese rule on December 19, 1961.

EDITORIALS, OPINIONS & COLUMNS

• Read this lead article on the role for India in the post-Durban climate negotiations
• For those who are unclear on the whole discussion on the god particle, like me! Please read this article which explains it in simple language
• Read this article on the expected future political changes in North Korea post the death of its leader, Kim Jong-il. If you have time then you can read this more detailed article which traces the rise of the leader and the future of his son as the next leader
• Read this article on the recently concluded Indo-Russian summit in Moscow
• Read this article on the steps taken by countries to save rainforests in the world and the lack of action by the World Bank

ECONOMY & BUSINESS NEWS

• Saudi prince Awaleed and related Saudi companies buy 4% stake in Twitter for USD300 million.
• Sensex at a 28 month low due to growth concerns