So, I have added few lines of python code in my automation create to solve above problem.
cmd = "gcloud container clusters list --format='json(name,status,zone,resourceLabels)'"
a = { "container" : json.loads(subprocess.check_output(shlex.split(cmd)))}
labels = a['container'][0]['resourceLabels']
labels["name"]= a['container'][0]['name'] #Adding new label
new_labels = (str(labels).replace("{","").replace("}", "").replace(" ", "").replace(":", "=").replace("'", ""))
CMD = "gcloud container clusters update {0} --zone {1} --project {2} --update-labels {3} ".format(rname, zone, PROJECTID, labels)
subprocess.call(CMD, shell=True)