Tanka Prasad Acharya was an anti-Rana, pro-democracy politician. Under the influence of freedom movement in India, five men—Acharya, Dharma Bhakta Mathema, Dashrath Chand, Sukra Raj Shastri, Gangalal Shrestha founded the Nepal Praja Parishad in the late 1930s, with Acharya as the chairman. Their motive was to overthrow the Rana regime and establish a democratic government in Nepal.
Tyranny, debauchery, economic exploitation and religious persecution characterized Rana rule.
Acharya was the first person to bring the printing machine into Nepal. He brought it from Banaras to publish four leaflets advocating overthrow of the Rana empire.
The movement later led to the overthrow of the Rana oligarchy. Acharya was released from the captivity in 1951 when King Tribhuvan came back to power.
He went on to become the Prime Minister in 1956.
During his premiership, the first 5-year plan was started, Nepal Rastra Bank was established and the Supreme Court was also established. Acharya resigned on Ashadh 31, 2014 (17 October 1957). Tanka Prasad Acharya died on 23 April 1992 due to kidney complications.
In year 2000, Meena Acharya founded the Tanka Prasad Acharya Memorial Foundation.