The whole of the mandukpiniiat goes to explaining this one consciousness, which illumines all these passing objects and gives us various experiences. This constant consciousness is not limited to the waking, to the dream or to the deep sleep. It is rather the fourth not waker dreamer, deep sleeper, but fourth tho deam. And then cycles goes on, cycling the experiences cycle. What are we? We are this consciousness. We are not this body, not this mind. We are consciousness.
"The objects of knowledge, viz., sound, touch, etc., which are perceived in the waking state, are different from each other because of their peculiarities; but the consciousness of these, which is different from them, does not differ because of its homogeneity." Inspired by this verse from the book, Pancadasi by Vidyaranya (Ch 1, Verse 3), Swami Sarvapriyananda gives a discourse on direct path of Advaita Vedanta.