Correct option is B
The correct answer is (b) A, C, D, E only.
• Statement A is true. The Swatantra Party, founded in 1959, indeed presented a classical conservative perspective on both domestic policy and foreign policy, differing significantly from the Nehruvian approach of non-alignment and socialism.
• Statement B is not true. The Swatantra Party was not led by I.K. Gujral. It was founded by C. Rajagopalachari and had other prominent leaders like Minoo Masani. I.K. Gujral was associated with the Indian National Congress and later became the Prime Minister of India; he was known for the Gujral Doctrine in India's foreign policy, which is separate from the ideological basis of the Swatantra Party.
• Statement C is true. The Swatantra Party's support base included former bureaucrats, the business community, and members of the princely families, who were attracted to its advocacy for free market policies and its opposition to the socialist economic policies being pursued by the government at the time.
• Statement D is true. One of the core reasons for the formation of the Swatantra Party was opposition to Nehru's socialist economic policies, which the party's leaders and supporters saw as detrimental to India's growth and autonomy.
• Statement E is true. The Swatantra Party strongly believed in market forces and private enterprise as the drivers of economic growth and development, in stark contrast to the state-led development model that was prevalent in India during the time.