This verse explains the dynamic relationship between the individual soul (jivatma) and the Supreme Being (Paramatma), who oversees everything within the material realm. Krishna describes how the Supreme Being takes on various roles to ensure the functioning of the universe and the spiritual evolution of each individual soul.

Firstly, Krishna mentions that the Supreme Being acts as the "upadrashta," meaning the observer or witness. This signifies that the Supreme Being watches over all activities, thoughts, and experiences of every living being without interference. It's like having a silent witness to everything that happens in the world, maintaining order and harmony.

Secondly, Krishna describes the Supreme Being as the "anumanta," which translates to the permitter or sanctioner. This implies that the Supreme Being allows each individual soul to exercise its free will and make choices within the boundaries of the material world. While the individual soul may feel in control of its actions, it's ultimately the Supreme Being who grants permission and oversees the consequences.

Additionally, Krishna refers to the Supreme Being as the "bhokta," the ultimate enjoyer. This means that the Supreme Being experiences the results of all actions and enjoys the fruits of every activity within the material realm. Despite the individual soul's perception of being the enjoyer, it's the Supreme Being who ultimately reaps the benefits or faces the consequences of all deeds.

Furthermore, Krishna identifies the Supreme Being as the supreme Lord (Maheshvara), emphasizing that this divine presence transcends the limitations of the material body and exists eternally within each living being. The Supreme Being serves as the overseer and permitter of the individual soul, guiding it on its spiritual journey and facilitating its growth towards liberation.

Overall, this verse underscores the intimate connection between the individual soul and the Supreme Being. It highlights how the Supreme Being oversees, permits, and experiences everything within the material realm, guiding each soul towards spiritual realization and liberation. By understanding and acknowledging this divine presence within ourselves, we can align our actions with the greater cosmic order and progress on the path of self-realization.