• deśa-kāla-ucitam — appropriate to the place and time
  The classical sūtra of right speech (and right action). Kṛṣṇa is dharma personified — His every word fits time and place exactly. Gauḍīya note: this is also the standard for any Vaiṣṇava preacher (cf. Caitanya's instruction to Sanātana on yukta-vairāgya). A contiguous-token join of synonyms 'deśa', 'kāla', and 'ucitam'.
• abhīṣṭam — desirable
  The challenge is what Kṛṣṇa Himself wanted. The Bhāgavatam discloses Bhagavān's own desire — He came to Mathurā for precisely this combat. The asura imagines he is coercing; in fact he is offering.
• abhinandya — welcoming
  Greeting with pleasure. Kṛṣṇa abhinandya-s the offer — He receives it as if it were a gift. Bhāgavata mood: even an enemy's challenge becomes mañgala when Bhagavān greets it.
• manyamānaḥ — considering
  Present participle — 'considering it (the wrestling) desirable for Himself'. The internal motion of Bhagavān is named: He sees, weighs, accepts. This is not reflex; it is sankalpa.

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Kṛṣṇa hears Cāṇūra's speech and welcomes it — abhinandya. The Lord is internally pleased that the asura has spoken aloud the very excuse the līlā requires, and He now answers in deśa-kāla-ucitam words. Bhagavān's reply is the līlā's pivot: He accepts the fight and seals Kaṁsa's exit.