Statement of Principles of The Swatantra Party included principles that the party aimed to live by. These were adopted at a Preparatory Convention held at Bombay on August l and 2, 1959. These principles included a pledge to Social Justice and equality of opportunity for all people without distinction of religion, caste, occupation, or political affiliation.  The party also held that the progress, welfare, and happiness of the people depend on individual initiative, enterprise, and energy. A total of twenty-one principles were adopted by the Swatantra Party. 

The Swatantra Party was founded in 1959 by leaders opposing the socialistic policies of the Congress government. Some of the prominent leaders of the time including C Rajagopalachari, Minoo Masani and N G Ranga collaborated to form a liberal and conservative party. The party stood for market-based economy and the dismantling of the license raj. After the death of Rajaji in the year 1972 the party lost its momentum and finally merged into the Bharatiya Kranti Dal in 1974.