• ātma-ānuśāsanam — instruction in the science of the Self
  Compound: ātma + anuśāsana. Same term as in verse 42. Gauḍīyas: the chapter is its own technical name. Where the Gītā is the song-of-the-Lord, this chapter is His instruction-about-the-Self.
• kāmānām-bharjanam — which burns up the material desires
  Phrase: kāmānām (of desires) + bharjana (frying, burning). Powerful image. Gauḍīyas: hari-kathā is a roasting-fire for kāmas; the dry seeds of desire cannot germinate after this fire. Same image as anukrama at SB 1.1.4.
• dāyāda — O heir (Nārada)
  From √dā (to give). An heir is one who receives. Gauḍīyas: Nārada is dāyāda — the heir of Brahmā's instruction. The chapter explicitly names the paramparā as inheritance: a transfer, not a discovery.
• śraddhayā — with faith
  Instrumental of śraddhā. The second occurrence of this word in the chapter (also verse 3). Gauḍīyas: śraddhā is the technical entry into bhakti (CC Madhya 22.62); without it the instruction is just text.
• kāmam — as you wish
  Avyaya — at will, freely. Even after receiving the highest instruction, Nārada wanders kāmam — freely. Gauḍīyas: the liberated devotee acts without compulsion. Free will, properly oriented, is the form of devotion itself.

Nārāyaṇa Ṛṣi gives Nārada the same gift He had received from the Janaloka conversation: an instruction-jewel he is to carry across the earth, faith intact. The instruction is described as that which burns up the desires of men — a torch, not a tract.