In a 1983 interview with Doordarshan, Bakshi recounted that after his initial studies, he joined the Indian Navy, where due to a paucity of time, he could only write occasionally.

He got his first break writing songs in a Brij Mohan film titled Bhalaa Aadmi (1958), acted by Bhagwan Dada.

[1] His first song in this film was "Dharti Ke Laal Na Kar Itna Malaal" which was recorded on 9 November 1956 (in his own voice on All India Radio interview).

[6] After writing for a few movies from 1958 onwards, he first found success in 1962 with Mehendi Lagi Mere Haath (1962 film), music by Kalyanji-Anandji, with Raj Kapoor as producer.

[5] Bakshi later made another mark for himself writing a qawwali for the 1962 film Kala Samundar, the song was "Meri Tasveer Lekar Kya Karoge Tum" composed by N. Datta.

Bakshi was widely associated with music composers such as Laxmikant–Pyarelal, R D Burman, Kalyanji Anandji, SD Burman, Anu Malik, Rajesh Roshan and Anand–Milind, and his songs have been sung by all the top singers as well as other singers such as Shamshad Begum, Ila Arun, Khursheed Bawra, Amirbai Karnataki, Sudha Malhotra and others.

[2][1] After this, he wrote memorable lyrics in many movies including Bobby, Amar Prem (1971), Aradhana (1969), Jeene Ki Raah, Mera Gaon Mera Desh, Aaye Din Bahar Ke, Aya Sawan Jhoom Ke, Seeta Aur Geeta, Sholay (1975), Dharam Veer, Nagina, Lamhe, Hum (1991), Mohra (1994), Dilwale Dulhania Le Jayenge (1995), Pardes (1997), Heer Raanjha, Dushman (1998), Taal (1998), Mohabbatein (2000), Gadar: Ek Prem Katha (2001), and Yaadein (2001).