In February 2020 he was elected to the Seventh Legislative Assembly of Delhi, representing the Mundka constituency.
Lakra was previously a local office bearer of the INC.
He quit INC and joined Aam Aadmi Party (AAP) in 2014.
He has described himself as an agriculturalist and a member of the Food Corporation of India.
In the 2020 legislative assembly election, he was noted as the wealthiest candidate with a declared wealth of Rupees 300 crore.