July 15, 2026
No 12-team WTC yet, 40-over ODI talk remains just that at ICC meet

No 12-team WTC yet, 40-over ODI talk remains just that at ICC meet

Vamsikrishna02 mins mins

ICC takes no decision after Annual Conference (Image: IANS) The International Cricket Council (ICC) has not taken any decision on reducing One-Day Internationals from 50 overs to 40 overs, putting to rest speculation that a major format change was imminent following its Annual Conference in Edinburgh.Despite media reports suggesting that the governing body was considering…

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India on brink of historic Lord’s Test victory after Yastika Bhatia’s record-breaking century

India on brink of historic Lord’s Test victory after Yastika Bhatia’s record-breaking century

Vamsikrishna03 mins mins

India batter Yastika Bhatia (Photo by Stu Forster/Getty Images) India Women moved to the brink of a historic maiden Test victory at Lord’s after a dominant third day, powered by Yastika Bhatia’s record-breaking maiden century before the bowlers reduced England to 130/6 in pursuit of an improbable 457-run target.With just four wickets separating them from…

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‘I used to watch it from sidelines’: Erling Haaland reflects on life-changing FIFA World Cup after England heartbreak

‘I used to watch it from sidelines’: Erling Haaland reflects on life-changing FIFA World Cup after England heartbreak

Vamsikrishna02 mins mins

Erling Haaland said Norway’s FIFA World Cup 2026 campaign has changed him as a person after the team’s run ended with a quarter-final defeat to England.Norway’s World Cup journey came to an end after a 2-1 extra-time loss to England. Despite the result, Haaland said playing on football’s biggest stage and representing his country was…

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Two giant Asian praying mantis species are spreading across Europe, helped by climate change and urbanisation, and scientists warn they are threatening pollinators, frogs and lizards

Two giant Asian praying mantis species are spreading across Europe, helped by climate change and urbanisation, and scientists warn they are threatening pollinators, frogs and lizards

Vamsikrishna04 mins mins

Two Asian praying mantises are spreading across Europe, and scientists warn they may now threaten native wildlife Two giant Asian praying mantis species are rapidly spreading across Europe, leading scientists to officially classify them as invasive threats to native wildlife.These fast-breeding predators are steadily moving north, helped by rising global temperatures and the warm conditions…

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Picture a bank vault the size of Madhya Pradesh. Inside it sits not gold bullion or govt bonds, but clean water, breathable air, pollination services, flood barriers, carbon blocks, and medicinal plants — a portfolio of natural assets worth roughly .5 trillion every single year. Now imagine that this vault does not appear on any national balance sheet, that its contents are routinely given away for free, and that the state periodically sanctions its demolition to make room for mines and motorways.That, in essence, is what India does with its forests. A new peer-reviewed study published in Environmental and Sustainability Indicators has — for the first time at a comprehensive national scale — put hard numbers on what India’s forests are actually worth. The findings should disturb every finance ministry official, every forest officer, and every citizen who has wondered why the govt keeps approving the conversion of green cover into concrete.Taming a jungle of dataThe study by M Balasubramanian from the Institute for Social and Economic Change (Isec) along with colleagues from the Indian Council of Forestry Research and Charles Darwin University in Australia, drew on 45 valuation studies published between 2000 and 2024. Every estimate was standardised to 2023 US dollar prices. This was challenging given that some studies valued a single medicinal plant species in one forest patch while others attempted national-level assessments.“We applied meta-regression analysis, a technique borrowed from several research that pools results across heterogeneous studies and uses statistical controls to identify what is really driving the variation in reported values. The covariates included GDP per capita, population density, forest cover, the type of ecosystem service being valued, and the valuation method employed,” Balasubramanian told TOI.The model explained 74% of the variation in reported total ecosystem service values, a respectable fit for such a noisy dataset. The result: India’s forests deliver ecosystem services worth an average of ,001 per hectare per year. Across the country’s roughly 8,27,000 sqkm of forest and tree cover, that compounds to approximately .5 trillion annually. For context, India’s entire GDP in 2023 was about .7 trillion. The forests generate invisible wealth equivalent to nearly two-thirds of the formal economy, and virtually none of it is counted.Which forests carry the most weight?Not all forests are created equal, and the study breaks the numbers down by forest type in ways that should directly inform land-use decisions.Tropical dry deciduous forests, the extensive, seasonally leafless woodlands that blanket large swathes of central and peninsular India, top the league table at approximately 3 billion per year. Their sheer extent is the primary driver: these forests cover nearly 2,81,000 sqkm. Per hectare, their value has actually risen from ,400 in 2019 to ,045 in 2023, even as their area has contracted.Tropical thorn forests, the scrubby semi-arid woodlands of Rajasthan and the Deccan, punch well above their ecological weight at a per-hectare value of over ,58,000, largely because of the irreplaceable services they provide in preventing soil erosion and desertification in regions with no alternative vegetation. Alpine forests and pastures in the Himalayan zone are valued at ,11,539 per hectare, reflecting their central role in regulating water flows for rivers that irrigate the breadbasket of northern India. Mangrove forests, perennially under threat from coastal development, contribute .5 billion per year in services that include cyclone buffering, fishery nurseries, and coastal erosion prevention. The 2020 Cyclone Amphan, which caused catastrophic damage to coastal Odisha and Bengal, offered a live demonstration of what happens when these natural defences are eroded.Invisible services that matter mostOne of the study’s most important findings concerns which category of services contributes most to total forest value. The instinctive answer — timber and other products people can sell — turns out to be wrong.The meta-regression shows that regulating services carry the strongest statistical relationship with reported total ecosystem values. Carbon sequestration, water purification, flood regulation, climate stabilisation, pollination: these functions are worth more, in aggregate, than the timber and non-timber forest products that typically drive forest policy. “Cultural services like ecotourism, spiritual significance, recreation, the preservation of biodiversity as intrinsic heritage, come second by our standardised coefficients, ahead of provisioning services,” Balasubramanian said.This matters because current policy is largely calibrated to the inverse priority. Compensatory Afforestation Fund payments for diverted forest land are calculated on formulae that have historically struggled to capture regulating and cultural service values. The Net Present Value charged for forest diversion similarly under-represents the full economic cost.GDP paradox & population pressureThe study’s statistical model surfaces a striking paradox at the heart of India’s development trajectory. Higher GDP is positively associated with reported forest ecosystem service values, but the relationship is not statistically significant. The authors suggest the link likely operates through increased investment in conservation and green infrastructure rather than any automatic market mechanism.Population density tells a darker story. A 1% increase in population density is associated with an 11.3% decrease in the value of forest ecosystem services, a large and statistically meaningful effect. The mechanism is direct: denser populations mean more agricultural encroachment, more illegal felling, more fragmentation, more infrastructure cutting through forest corridors. India’s population density of 464 people per sqkm, against a global average of roughly 60, places it under enormous structural pressure on its remaining forests.Nor does forest cover alone guarantee value. The study finds no statistically significant relationship between the quantity of forest cover and reported ecosystem service values. What matters is quality: forest health, biodiversity richness, management regime, and the specific services each forest type provides. “A monoculture plantation counts as forest cover in official statistics but delivers a fraction of the ecosystem services of a natural mixed-species stand,” Balasubramanian explained.Accounting gap & how to close itThe core policy argument of the paper is straightforward: until the economic value of forest ecosystem services is incorporated into national income accounting and project-level appraisal, India will continue to systematically under-price decisions that destroy natural capital.The authors call for adoption of the System of Environmental-Economic Accounting (SEEA) framework, which the UN has developed precisely for this purpose and which countries including the UK, Netherlands, and Australia have begun implementing. In practical terms, this would mean that when a state govt proposes to divert 500 hectares of tropical dry deciduous forest for a new expressway, the economic appraisal would need to include the foregone .5 million in annual ecosystem services — permanently.“India is not starting from zero. CAMPA, the Green India Mission, REDD+ projects, and various state-level Payment for Ecosystem Services experiments all represent institutional infrastructure that could be scaled and sharpened. What is missing is the systematic valuation evidence to anchor these schemes, evidence that our study now begins to provide,” Balasubramanian said.India’s forests are not a cost to be managed. They are an asset to be stewarded — one generating .5 trillion in annual returns that the nation’s accountants have yet to learn to see.Get the latest India news and live updates. Download the TOI App.About the AuthorChethan KumarChethan Kumar is a Senior Assistant Editor with the Times of India. Aside from specialising in Space & Science, he has reported extensively on varied topics, with special focus on defence, policy and data stories. He has covered multiple elections, too. As a young democracy grows out of adolescence, Chethan feels, there are reels of tales emerging which need to be captured. To do this, he alternates between the mundane goings-on of the Common Man and the wonder-filled worlds of scientists and scamsters, politicians and soldiers. In a career spanning nearly 18 years, he has reported from multiple datelines — Houston, Florida, Kochi, Hyderabad, Chennai, Sriharikota (AP), NH-1 (J&K Highway), New Delhi, Ahmedabad, Raichur, Bhatkal, Mysuru, Chamarajanagar, to name a few — but is based out of Bengaluru, India’s science capital that also hosts the ISRO HQ.Read MoreEnd of ArticleFollow Us On Social MediaVideos’I Lock Up Religion When…’: Annamalai Confirms ‘We The Leaders’ Will Become Political PartyWatch: Assam CM Himanta Sarma Drives Road Roller, Destroys Seized Drugs’1 Indian Missing’: MEA Condemns Attack On Vessel Carrying Indian Crew Off Oman Coast’Do I Have To Ask Trump?’: Omar Abdullah Launches Attack At Modi Govt Over Jammu-Kashmir StatehoodBJP Rejects Omar Abdullah’s ‘Operation Lotus’ Allegation, Demands Proof Or Public ApologyHapur Woman Critical After Allegedly Drinking Acid From Sealed Water Bottle; Police Launch ProbeElection Commission Updates Form 6 With New SIR DeclarationIndian Army Plans To Induct 450 Carl Gustaf M4 Rocket LaunchersDelhi To Get Its First Solar Tree At Secretariat; Pilot Project May Expand Across The CityBig Setback To Mamata Banerjee As Loyalist Anubrata Mandal Joins Ritabrata-Led Rebel Camp123PhotostoriesWomen over 30, especially mothers, face these 5 common health problems: Doctor says early prevention can make all the differenceTrying for a baby? This one dental habit could make a difference”Scrambled egg mein crush…aur phir”: Raj Thackeray shares his unique Egg recipe loved by his father and Bal ThackerayForget crash diets and health hacks: Cardiologist reveals 5 simple daily habits that can transform your health, one day at a timeTop 3 eggs in the world and the right way to consume themnside Sudesh Lehri’s luxurious 4-BHK Mumbai home: A private studio, home theatre and moreWhy seemingly healthy young Indians are collapsing without warning: Doctors explain how AEDS can mean the difference between life and deathKate Middleton ditched soft neutrals for a show-stopping red look at Wimbledon 20265 late-night drinks that help support healthy blood sugar, according to dietitians9 traditional steamed breakfast dishes of India and their calories123Hot PicksAgniveer result 2026DU UG Admissions 2026Vietnam boat accidentSonam Wangchuk Hunger strikeIslam makhachevKarnataka Bus newsBengaluru delivery boyKolkata Mosque prayersHamad bin Khalifa Al ThaniTop TrendingUFC 329 HighlightsNHL Player InjuryErling Haaland FatherFIFA World Cup 2026Chhattisgarh Student MurderTS EAMCET Phase 1 seat allotmentRamesh MhatreDelhi NCR rainGurgaon EncounterIran war

Picture a bank vault the size of Madhya Pradesh. Inside it sits not gold bullion or govt bonds, but clean water, breathable air, pollination services, flood barriers, carbon blocks, and medicinal plants — a portfolio of natural assets worth roughly $2.5 trillion every single year. Now imagine that this vault does not appear on any national balance sheet, that its contents are routinely given away for free, and that the state periodically sanctions its demolition to make room for mines and motorways.That, in essence, is what India does with its forests. A new peer-reviewed study published in Environmental and Sustainability Indicators has — for the first time at a comprehensive national scale — put hard numbers on what India’s forests are actually worth. The findings should disturb every finance ministry official, every forest officer, and every citizen who has wondered why the govt keeps approving the conversion of green cover into concrete.Taming a jungle of dataThe study by M Balasubramanian from the Institute for Social and Economic Change (Isec) along with colleagues from the Indian Council of Forestry Research and Charles Darwin University in Australia, drew on 45 valuation studies published between 2000 and 2024. Every estimate was standardised to 2023 US dollar prices. This was challenging given that some studies valued a single medicinal plant species in one forest patch while others attempted national-level assessments.“We applied meta-regression analysis, a technique borrowed from several research that pools results across heterogeneous studies and uses statistical controls to identify what is really driving the variation in reported values. The covariates included GDP per capita, population density, forest cover, the type of ecosystem service being valued, and the valuation method employed,” Balasubramanian told TOI.The model explained 74% of the variation in reported total ecosystem service values, a respectable fit for such a noisy dataset. The result: India’s forests deliver ecosystem services worth an average of $31,001 per hectare per year. Across the country’s roughly 8,27,000 sqkm of forest and tree cover, that compounds to approximately $2.5 trillion annually. For context, India’s entire GDP in 2023 was about $3.7 trillion. The forests generate invisible wealth equivalent to nearly two-thirds of the formal economy, and virtually none of it is counted.Which forests carry the most weight?Not all forests are created equal, and the study breaks the numbers down by forest type in ways that should directly inform land-use decisions.Tropical dry deciduous forests, the extensive, seasonally leafless woodlands that blanket large swathes of central and peninsular India, top the league table at approximately $703 billion per year. Their sheer extent is the primary driver: these forests cover nearly 2,81,000 sqkm. Per hectare, their value has actually risen from $22,400 in 2019 to $25,045 in 2023, even as their area has contracted.Tropical thorn forests, the scrubby semi-arid woodlands of Rajasthan and the Deccan, punch well above their ecological weight at a per-hectare value of over $1,58,000, largely because of the irreplaceable services they provide in preventing soil erosion and desertification in regions with no alternative vegetation. Alpine forests and pastures in the Himalayan zone are valued at $1,11,539 per hectare, reflecting their central role in regulating water flows for rivers that irrigate the breadbasket of northern India. Mangrove forests, perennially under threat from coastal development, contribute $58.5 billion per year in services that include cyclone buffering, fishery nurseries, and coastal erosion prevention. The 2020 Cyclone Amphan, which caused catastrophic damage to coastal Odisha and Bengal, offered a live demonstration of what happens when these natural defences are eroded.Invisible services that matter mostOne of the study’s most important findings concerns which category of services contributes most to total forest value. The instinctive answer — timber and other products people can sell — turns out to be wrong.The meta-regression shows that regulating services carry the strongest statistical relationship with reported total ecosystem values. Carbon sequestration, water purification, flood regulation, climate stabilisation, pollination: these functions are worth more, in aggregate, than the timber and non-timber forest products that typically drive forest policy. “Cultural services like ecotourism, spiritual significance, recreation, the preservation of biodiversity as intrinsic heritage, come second by our standardised coefficients, ahead of provisioning services,” Balasubramanian said.This matters because current policy is largely calibrated to the inverse priority. Compensatory Afforestation Fund payments for diverted forest land are calculated on formulae that have historically struggled to capture regulating and cultural service values. The Net Present Value charged for forest diversion similarly under-represents the full economic cost.GDP paradox & population pressureThe study’s statistical model surfaces a striking paradox at the heart of India’s development trajectory. Higher GDP is positively associated with reported forest ecosystem service values, but the relationship is not statistically significant. The authors suggest the link likely operates through increased investment in conservation and green infrastructure rather than any automatic market mechanism.Population density tells a darker story. A 1% increase in population density is associated with an 11.3% decrease in the value of forest ecosystem services, a large and statistically meaningful effect. The mechanism is direct: denser populations mean more agricultural encroachment, more illegal felling, more fragmentation, more infrastructure cutting through forest corridors. India’s population density of 464 people per sqkm, against a global average of roughly 60, places it under enormous structural pressure on its remaining forests.Nor does forest cover alone guarantee value. The study finds no statistically significant relationship between the quantity of forest cover and reported ecosystem service values. What matters is quality: forest health, biodiversity richness, management regime, and the specific services each forest type provides. “A monoculture plantation counts as forest cover in official statistics but delivers a fraction of the ecosystem services of a natural mixed-species stand,” Balasubramanian explained.Accounting gap & how to close itThe core policy argument of the paper is straightforward: until the economic value of forest ecosystem services is incorporated into national income accounting and project-level appraisal, India will continue to systematically under-price decisions that destroy natural capital.The authors call for adoption of the System of Environmental-Economic Accounting (SEEA) framework, which the UN has developed precisely for this purpose and which countries including the UK, Netherlands, and Australia have begun implementing. In practical terms, this would mean that when a state govt proposes to divert 500 hectares of tropical dry deciduous forest for a new expressway, the economic appraisal would need to include the foregone $12.5 million in annual ecosystem services — permanently.“India is not starting from zero. CAMPA, the Green India Mission, REDD+ projects, and various state-level Payment for Ecosystem Services experiments all represent institutional infrastructure that could be scaled and sharpened. What is missing is the systematic valuation evidence to anchor these schemes, evidence that our study now begins to provide,” Balasubramanian said.India’s forests are not a cost to be managed. They are an asset to be stewarded — one generating $2.5 trillion in annual returns that the nation’s accountants have yet to learn to see.Get the latest India news and live updates. Download the TOI App.About the AuthorChethan KumarChethan Kumar is a Senior Assistant Editor with the Times of India. Aside from specialising in Space & Science, he has reported extensively on varied topics, with special focus on defence, policy and data stories. He has covered multiple elections, too. As a young democracy grows out of adolescence, Chethan feels, there are reels of tales emerging which need to be captured. To do this, he alternates between the mundane goings-on of the Common Man and the wonder-filled worlds of scientists and scamsters, politicians and soldiers. In a career spanning nearly 18 years, he has reported from multiple datelines — Houston, Florida, Kochi, Hyderabad, Chennai, Sriharikota (AP), NH-1 (J&K Highway), New Delhi, Ahmedabad, Raichur, Bhatkal, Mysuru, Chamarajanagar, to name a few — but is based out of Bengaluru, India’s science capital that also hosts the ISRO HQ.Read MoreEnd of ArticleFollow Us On Social MediaVideos’I Lock Up Religion When…’: Annamalai Confirms ‘We The Leaders’ Will Become Political PartyWatch: Assam CM Himanta Sarma Drives Road Roller, Destroys Seized Drugs’1 Indian Missing’: MEA Condemns Attack On Vessel Carrying Indian Crew Off Oman Coast’Do I Have To Ask Trump?’: Omar Abdullah Launches Attack At Modi Govt Over Jammu-Kashmir StatehoodBJP Rejects Omar Abdullah’s ‘Operation Lotus’ Allegation, Demands Proof Or Public ApologyHapur Woman Critical After Allegedly Drinking Acid From Sealed Water Bottle; Police Launch ProbeElection Commission Updates Form 6 With New SIR DeclarationIndian Army Plans To Induct 450 Carl Gustaf M4 Rocket LaunchersDelhi To Get Its First Solar Tree At Secretariat; Pilot Project May Expand Across The CityBig Setback To Mamata Banerjee As Loyalist Anubrata Mandal Joins Ritabrata-Led Rebel Camp123PhotostoriesWomen over 30, especially mothers, face these 5 common health problems: Doctor says early prevention can make all the differenceTrying for a baby? This one dental habit could make a difference”Scrambled egg mein crush…aur phir”: Raj Thackeray shares his unique Egg recipe loved by his father and Bal ThackerayForget crash diets and health hacks: Cardiologist reveals 5 simple daily habits that can transform your health, one day at a timeTop 3 eggs in the world and the right way to consume themnside Sudesh Lehri’s luxurious 4-BHK Mumbai home: A private studio, home theatre and moreWhy seemingly healthy young Indians are collapsing without warning: Doctors explain how AEDS can mean the difference between life and deathKate Middleton ditched soft neutrals for a show-stopping red look at Wimbledon 20265 late-night drinks that help support healthy blood sugar, according to dietitians9 traditional steamed breakfast dishes of India and their calories123Hot PicksAgniveer result 2026DU UG Admissions 2026Vietnam boat accidentSonam Wangchuk Hunger strikeIslam makhachevKarnataka Bus newsBengaluru delivery boyKolkata Mosque prayersHamad bin Khalifa Al ThaniTop TrendingUFC 329 HighlightsNHL Player InjuryErling Haaland FatherFIFA World Cup 2026Chhattisgarh Student MurderTS EAMCET Phase 1 seat allotmentRamesh MhatreDelhi NCR rainGurgaon EncounterIran war

Vamsikrishna06 mins mins

Picture a bank vault the size of Madhya Pradesh. Inside it sits not gold bullion or govt bonds, but clean water, breathable air, pollination services, flood barriers, carbon blocks, and medicinal plants — a portfolio of natural assets worth roughly $2.5 trillion every single year. Now imagine that this vault does not appear on any…

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‘All her teammates were crying’: Father recalls Indian team’s support after Yastika Bhatia’s injury as batter scores historic century at Lord’s

‘All her teammates were crying’: Father recalls Indian team’s support after Yastika Bhatia’s injury as batter scores historic century at Lord’s

Vamsikrishna04 mins mins

Yastika Bhatia celebrates her century during day three of the Women’s Test Match between England and India at Lord’s Cricket Ground on July 12, 2026 in London, England. (Photo/Getty Images) Mumbai: Yastika Bhatia’s century at Lord’s on Sunday was a milestone for Indian women’s cricket, but for her family it also marked the end of…

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Malayalam actor SI Rajasekharan passes away at his Kottayam residence; cause of death unknown

Malayalam actor SI Rajasekharan passes away at his Kottayam residence; cause of death unknown

Vamsikrishna02 mins mins

Malayalam actor SI Rajasekharan passes away at his Kottayam residence; cause of death unknown Veteran Malayalam actor Rajasekharan, popularly known as SI Rajasekharan for his memorable portrayals of police officers on screen, passed away on Sunday at his residence in Chingavanam in Kerala’s Kottayam district. The cause of his death has not been disclosed.A familiar…

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While Jeff Bezos was sitting in the passenger seat writing Amazon’s business plan in 1994, his wife MacKenzie Scott was driving them on a 2,000-mile road trip across US in a borrowed car

While Jeff Bezos was sitting in the passenger seat writing Amazon’s business plan in 1994, his wife MacKenzie Scott was driving them on a 2,000-mile road trip across US in a borrowed car

Vamsikrishna04 mins mins

In an old interview posted on YouTube, Bezos recalled brainstorming on a laptop in the passenger seat while MacKenzie Scott drove him across the country Before Amazon became a three-trillion-dollar global company, its entire business plan was written on a laptop sitting inside the passenger seat of a borrowed 1988 Chevy Blazer.The idea for the…

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Jul 12, 2026, 17:34 IST

Jul 12, 2026, 17:34 IST

Vamsikrishna03 mins mins

Argentina’s Lionel Messi, with a mark by his eye, looks back during the World Cup quarterfinal football match between Argentina and Switzerland in Kansas City, Mo., Saturday, July 11, 2026. (AP Photo) Argentina coach Lionel Scaloni said his team’s 3-1 extra-time win over Switzerland in the FIFA World Cup quarterfinal on Sunday showed how comfortable…

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Four top-10 firms add Rs 93,000 crore in mcap despite weak market; HDFC Bank, Airtel lead gains

Four top-10 firms add Rs 93,000 crore in mcap despite weak market; HDFC Bank, Airtel lead gains

Vamsikrishna02 mins mins

HDFC Bank and Bharti Airtel emerged as the biggest gainers among India’s top-10 most-valued firms NEW DELHI: Despite a weak week for benchmark indices, four of India’s 10 most-valued companies added nearly Rs 93,000 crore to their combined market capitalisation, led by strong gains in HDFC Bank and Bharti Airtel.The combined valuation of Reliance Industries,…

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A second pregnancy changes the brain in a different way from the first, new research suggests

A second pregnancy changes the brain in a different way from the first, new research suggests

Vamsikrishna05 mins mins

Second pregnancy changes the brain in surprising new ways A woman’s brain changes in very different ways during her second pregnancy compared with her first, helping her adjust to the demands of raising a larger family.The discovery comes from a study by researchers at Amsterdam University Medical Center, published in the journal Nature Communications. Scientists…

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