Macro Ledger Reference

Macro
Data Stack

Full-spectrum reconciliation of the Dhurandhar economic footprint. Sourced from production expenditure, theatrical realization, and secondary circulation flow.

Block::why

Why the three lenses matter

If someone creates the income account by taking the expenditure total and slicing percentages off it until it matches, that is not real accounting. It is a presentation mockup.

Real national accounts use three different approaches: production/output, expenditure, and income. They come from different source systems and are later reconciled.

The source data will not line up perfectly. A statistical discrepancy is normal.

Block::model

How to think about the movie model

Expenditure should be estimated from demand and spending flows.

Income should be estimated independently from who got paid and who captured surplus.

Velocity is not a third GDP identity. It is a circulation lens and it should stay separate from the first two accounts.

Block::anchors

Part 1 and Part 2 anchors

Part 1 anchors: worldwide gross ₹1,353 crore, India gross ₹1,058 crore, overseas gross ₹295 crore, total cost including P&A ₹265 crore, non-theatrical rights ₹135 crore.

Part 2 assumption: worldwide gross equals 1.5 times Part 1, which gives ₹2,029.5 crore.

A base overseas share of 18% is used for Part 2, which gives overseas gross ₹365.31 crore and India gross ₹1,664.19 crore.

Aggregate totals: worldwide gross ₹3,382.50 crore, India gross ₹2,722.19 crore, overseas gross ₹660.31 crore, total cost ₹505 crore, non-theatrical rights ₹380 crore.

India net is taken at an 84.5% ratio, which gives aggregate India net ₹2,300.25 crore.

Block::expenditure

Expenditure account

Formula: GDPmovie(E) = C + I + G + (X - M)

Final expenditure result: ₹4,772.34 crore.

Variable Logic

1.C = C_tickets + C_concessions + C_adjacent

2.I = I_production + I_P&A + I_distribution

3.X = X_overseas theatrical + X_foreign rights

4.M = M_production imports + M_marketing/distribution imports

ID	Definition	Impact	Note
C	Consumption	₹3,566.07 cr	Tickets, concessions, adjacent spend
I	Investment	₹505.00 cr	All-in production and release cost
G	Government support	₹7.58 cr	Public support / facilitation
X	Exports	₹736.31 cr	Overseas theatrical + foreign rights
M	Imports	₹42.62 cr	Imported inputs and services

Block::income

Income account

Formula: GDPmovie(Y) = W + OS + MI + (T - S)

Final income result: ₹4,353.84 crore.

Variable Logic

1.W = W_production + W_tickets/service + W_concessions + W_adjacent

2.(T - S) = T_tickets + T_concessions + T_other - S

3.MI = MI_cost side + MI_rights

4.OS = OS_producer/distributor + OS_exhibitor/local-service

ID	Definition	Impact	Note
W	Compensation of employees	₹749.47 cr	Wages and labour compensation
OS	Operating surplus	₹2,991.39 cr	Producer, distributor, exhibitor surplus
MI	Mixed income / rents / finance	₹155.60 cr	Royalties, rentals, finance-type income
T - S	Taxes less subsidies	₹457.38 cr	Taxes net of support

Block::gap

What the gap means

Expenditure: ₹4,772.34 crore.

Income: ₹4,353.84 crore.

Difference: ₹418.50 crore.

Gap as a share of expenditure: 8.77%.

That gap is the statistical discrepancy or model discrepancy. For a public-data reconstruction, that is a believable result.

Block::velocity

Velocity / flow lens

Velocity is not a third GDP identity.

It is a circulation or multiplier lens.

Initial local injection Jlocal = I + G - M = ₹469.96 crore.

Multiplier k = 1.68.

Secondary spillover Vsecondary = Jlocal × (k - 1) = ₹319.57 crore.

Total local circulation = ₹789.53 crore.

Block::assumptions

Variables and assumptions

WWP1 = ₹1,353.00 crore.

WWP2 = ₹2,029.50 crore.

Part 2 overseas share = 18%.

India net ratio = 84.5%.

Concessions share = 27%.

Adjacent spend share = 4%.

Government support share of investment = 1.5%.

Foreign share of rights = 20%.

Production imports = 8%.

Marketing and distribution imports = 10%.

Producer/distributor share of India net = 50.5%.

Producer/distributor realization of overseas gross = 42%.

Local circulation multiplier = 1.68.

Block::headline

Final headline numbers

Direct expenditure-based footprint: ₹4,772 crore.

Independent income-side estimate: ₹4,354 crore.

Secondary spillover: ₹320 crore.

Expanded footprint if you add the spillover to the expenditure headline: ₹5,092 crore.

Public-facing rounded version: direct ₹4.8K crore, expanded ₹5.1K crore.

Block::economist

What I would actually say as an economist

Expenditure and income should broadly reconcile, but they should not be forced to match by construction.

Leaving variables blank or zero invites attack.

Velocity should stay separate.

Use expenditure as the primary headline, income as the reconciliation check, and a discrepancy band to show why the two do not match exactly.