The 27-feet high statue with 13-feet pedestal is situated between Vidhana Soudha and its replica Vikasa Soudha, located to its south, under a Rs 11-crore project.
Famous sculptor Ram Vanji Sutar has sculpted the statue. The foundation stone for the statue was laid by Siddaramaiah on June 6.
Speaking at the unveiling function, the Chief Minister said "we should be cautious about those dividing society in the name of caste and religion."
The government could not take up the statue installation work in the Vidhana Soudha premises a few years ago as it came under the Cubbon Park limits.
To tide over this problem, Karnataka Government Parks (Preservation) (Amendment) Bill, 2013 was adopted last year, removing about 49 acres, including Vidhana Soudha, Vikasa Soudha, Legislators' Home and adjoining structures, from the purview of Cubbon Park premises.