After announcing the official name of his political party on November 24, 2012, the ‘Aam Aadmi Party was formally launched on November 26, 2012, by Arvind Kejriwal. Kejriwal claimed that the party will promote the ideals of a bottom-up political structure.

According to its members, the party has adopted the path of fighting against corruption. Party member Yogendra Yadav, while talking to  reporters said, “The party has not yet worked out its economic policy”. Yadav added that they have worked out the constitution’s guarantee of providing economic quality to all.

Yogendra went on to say, “The problem to my mind really was that the ideals of equality, of making a society that is just to all, was attached to certain instruments that are wooden. They do not work after a point.” He said this while referring to the 1960's style socialism, with extensive state intervention and support.

On the other hand, Krjriwal assured his supporters that his 'common man’s party' will be transparent in its functioning and all the details of its expenses and donations will be displayed on its website. Moreover, he has also challenged other parties like the BJP and Congress to make public the funds that they are spending on the Gujarat polls. Former Chief Justice of Jharkhand HC Justice Bhagwati Prasad Sharma and Admiral Ramdass have been announced as members at the party’s first internal Lokpal.