। ॥
In plain words
I honour the knowledge that is a flash of light, first and unequalled, who has made her home in Kāñcī and has set out the play of her graces in shaping everything from Brahmā to a tuft of grass.
Word for word
By whom a play of graces was placed in the craft-design from Brahmā to a grass clump, Kāñcī-resorting, unequalled, the first, the flashing forth, I honour, Vidyā.