ya etat kirtayen mahyam
tvaya gitam idam narah
tvam ca mam ca smaran kale
Translation by His Divine Grace A. C. Bhaktivedanta Swami Srila Prabhupada:
One who always remembers your activities and My activities also, and who chants the prayers you have offered, becomes free, in due course of time, from the reactions of material activities.
Purport by His Divine Grace A. C. Bhaktivedanta Swami Srila Prabhupada:
Here it is stated that anyone who chants and hears about the activities of Prahlada Maharaja and, in relationship with Prahlada’s activities, the activities of Nrsimhadeva, gradually becomes free from all the bondage of fruitive activities. As stated in Bhagavad-gita (2.15, 2.56):
yam hi na vyathayanty ete
so ’mrtatvaya kalpate
“O best among men [Arjuna], the person who is not disturbed by happiness and distress and is steady in both is certainly eligible for liberation.”
sthita-dhir munir ucyate
“One who is not disturbed in spite of the threefold miseries, who is not elated when there is happiness, and who is free from attachment, fear and anger, is called a sage of steady mind.” A devotee should not be aggrieved in an awkward position, nor should he feel extraordinarily happy in material opulence. This is the way of expert management of material life. Because a devotee knows how to manage expertly, he is called jivan-mukta. As Rupa Gosvami explains in Bhakti-rasamrta-sindhu:
iha yasya harer dasye
karmana manasa gira
nikhilasv apy avasthasu
jivan-muktah sa ucyate
“A person acting in Krsna consciousness (or, in other words, in the service of Krsna) with his body, mind, intelligence and words is a liberated person even within this material world, although he may be engaged in many so-called material activities.” Because of constantly engaging in devotional service, in any condition of life, a devotee is free from all material bondage.
bhaktih punati man-nistha
sva-pakan api sambhavat
“Even one born in a family of meat-eaters is purified if he engages in devotional service.” (Bhag. 11.14.21) Srila Jiva Gosvami cites this verse in logically supporting that anyone who chants about the pure life and activities of Prahlada Maharaja is freed from the reactions of material activities.