kaye balis tasya maha-vibhuteh
dadarsa visvam tri-gunam gunatmake
Translation by His Divine Grace A. C. Bhaktivedanta Swami Srila Prabhupada:
Bali Maharaja, along with all the priests, acaryas and members of the assembly, observed the Supreme Personality of Godhead’s universal body, which was full of six opulences. That body contained everything within the universe, including all the gross material elements, the senses, the sense objects, the mind, intelligence and false ego, the various kinds of living entities, and the actions and reactions of the three modes of material nature.
Purport by His Divine Grace A. C. Bhaktivedanta Swami Srila Prabhupada:
In Bhagavad-gita, the Supreme Personality of Godhead says, aham sarvasya prabhavo mattah sarvam pravartate: Krsna is the origin of everything. Vasudevah sarvam iti: Krsna is everything. Mat-sthani sarva-bhutani na caham tesv avasthitah: everything rests in the body of the Lord, yet the Lord is not everywhere. Mayavadi philosophers think that since the Supreme Personality of Godhead, the Absolute Truth, has become everything, He has no separate existence. Their philosophy is called advaita-vada. Actually, however, their philosophy is not correct. Here, Bali Maharaja was the seer of the Personality of Godhead’s universal body, and that body was that which was seen. Thus there is dvaita-vada; there are always two entities — the seer and the seen. The seer is a part of the whole, but he is not equal to the whole. The part of the whole, the seer, is also one with the whole, but since he is but a part, he cannot be the complete whole at any time. This acintya-bhedabheda — simultaneous oneness and difference — is the perfect philosophy propounded by Lord Sri Caitanya Mahaprabhu.