If you are an underpaid graduate student who cannot afford to have a desi cable channel, there is a nice free alternative. Go to http://www.ibnlive.com/videos/ and you land up with a page like this.
You will see a "Live Streaming" link at the location circled above. Click and enjoy. I just happend to see this week's comedy segment "The week that wasn't" hosted by Cyrus Broacha. Quite hilarious and a bit closer to Daily Show theme (which is another show I happen to view online everyday very religiously) . His fake interview with Musharaf was quite funny.
And if you are missing all the desi ads, you are in for a treat. Especially these days with lots of Diwali Festival ads.