Bengaluru: Chief Minister Basavaraj Bommai announced on Friday that the Karnataka government will establish an "anchor bank" to make financial assistance to women's self-help groups more accessible.

Inaugurating the 'Sanjeevini Saras-2022' national mela on Friday evening at Basavanagudi National College Grounds, Bommai stated that the anchor bank will provide financial assistance within one month, allowing SHG women entrepreneurs to start their businesses as soon as possible.

The chief minister said, an amount of Rs 500 crores was set aside in the recent budget to enhance women's self-help organisations, which are expected to produce four lakh self-employment chances.  He went on to say that the government has allotted Rs 47,000 crores for women's welfare and Rs 43,000 crores for children's welfare in the budget, adding that the government will issue an order to implement these programmes within a week.

Despite the fact that the state ranks fourth in the country in terms of per capita income, just 25-30% of the population contributes to the GSDP, with the remaining 70% working solely for survival, he stated.

Bommai stated that the government is taking all necessary steps to empower 70% of the population so that they can participate in economic activities that contribute to the GSDP.

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