Meaning
Blood.
How Iqbal uses it
The warmth that proves life. The falcon's swoop and counter-swoop are just “an excuse to keep the blood warm”; and the circulation of blood in the veins is worth nothing without the burning of the heart it serves. From his dust and blood, he tells God, this world was made.
See it in the verse
Khoon in Iqbal’s couplets
Jhapatna palatna palat kar jhapatna
Lahu garm rakhne ka hai ek bahana
Lahu garm rakhne ka hai ek bahana
To swoop, to wheel away, and to swoop once more — it is only a pretext for keeping the blood warm.
The Falcon · Action · Restlessness
Ragon mein gardish-e-khun hai agar to kya hasil
Hayat soz-e-jigar ke siwa kuchh aur nahin
Hayat soz-e-jigar ke siwa kuchh aur nahin
If blood merely circulates in your veins, what of it? Life is nothing but the burning of the heart.
Love · Awakening · Restlessness
Mire khaak o khun se tu ne ye jahan kiya hai paida
Sila-e-shahid kya hai tab-o-tab-e-javedana
Sila-e-shahid kya hai tab-o-tab-e-javedana
From my dust and my blood you have brought this world into being; and the reward of the one who gives himself is an everlasting glow.
Selfhood · Action · Aspiration