Barqat means prosperity, good fortune, abundance
Below are some wonderful couplets by Bashir Badr with this lafz.

The first one is from his popular ghazal “Khuda humko aisi khudai na de”:

bashir-badr-1Ghulami ko barqat samajhne lage
Asiron ko aisi rihaai na de

Khuda humko aisee khudaayee na de
ke apne siwa kuchch dikhaayee na de

That they start thinking of captivity/slavery as good fortune
Don’t give such a sense of freedom to prisoners

O God, don’t give such a feeling of greatness (of intelligence)
That I lose myself and can’t see anything else beyond me

Here is another sher by Bashir Badr with ‘barkat’ –
Gale mein uske Khuda kii ajab barqat hai
Vo bolta hai toh ek raushni sii hoti hai

His voice has been endowed (by God) with immense good fortune
When he speaks, everything seems to light up