Interpretation

Taking refuge in Krishna (mad-vyapashrayah — 'Krishna-sheltered'), performing all the varied actions of life — and by Divine grace (mat-prasadat), attaining the eternal, imperishable abode. Grace is the element that the ego cannot provide for itself. All the practices, all the virtues, all the non-attachment are necessary but not sufficient — the final opening is grace. And grace comes naturally to the one who takes complete refuge. This verse encapsulates the entire Gita: full action in the world + complete refuge in the Divine = liberation by grace.