Overall meaning :
Addressing the Children of Israel, Allah Almighty reminds them of the blessings that He had bestowed upon their forefathers, stating that He had preferred them over all the nations of their time. He then admonishes them and commands them to put up a shield between themselves and the torment of Allah Almighty on the Day of Judgement, on which no person will avail another in any way, nor will intercession be accepted on anyone’s behalf if he does not profess faith, nor will any ransom be accepted from him, nor will anyone save them from the punishment of Allah Almighty.
Then He reminds them of the day when He delivered their forefathers from Pharaoh and his supporters, who perpetually subjected them to dreadful torments, killing their baby boys and sparing their baby girls to enslave and degrade them. Such deliverance from oppression was indeed a great blessing from their Lord on them!
He also asks them to call to mind His parting the sea for them and rescuing them by leading them to safety and drowning Pharaoh and his people before their very eyes, much to their delight and much to their enemies’ distress.
He further reminds them of His appointing for Moses forty nights and how they worshipped the calf in his absence, thereby wronging themselves by worshipping the creation instead of the Creator. Yet after that He pardoned them, so that they might give thanks to Him for such a blessing.
He also asks them to recall His giving Moses the Torah so that they might be rightly-guided by following its teachings.
He further reminds them of Moses’ saying to their forefathers that they had wronged yourselves by worshipping the calf, taking it as an object of worship. He asked them to turn in penitence to their Creator by killing one another, saying that this would be best for them in the sight of their Creator who pardoned them; for He is the Acceptor of Repentance, the All-Merciful.
He also asks them to recollect when their forefathers said to Moses, peace be upon him, ‘We will never believe that the commandments you have brought are really from Allah unless we see Allah with our own eyes,’ Thereupon they were punished with the thunderbolt that struck them, so much so that they were looking at each other dying. Then Allah brought them back to life after their death, so that they might express gratitude to Him for reviving them.
He further asks them to recall Allah’s shading them against the sun with thin white clouds when they were still wandering about in the earth and how He sent down for them manna and quails, commanding them to eat of the good things He had given them for sustenance. The Almighty then explains that by showing ingratitude and disobeying His commands, they would by no means do harm to Him, but they would only harm themselves.