The political establishment will kill it
There was a word in their press release which has signed their death warrant.
They will create a few jobs and all of the qualified middle class engineering jobs with an average salary of 50K. That has signed their death warrant.
Neither the band in charge, nor the band in opposition want any middle class.
1. Middle class is bad for the economy. Instead of impulsive spending and filling the govt VAT coffers it saves, thinks before it buys and is overall a pain in the arse. So while it may be paying a higher tax rate it will contribute way less to "key parameters" then distributing the same amount of money to a large group of what once upon a time used to be called lumpen-proletariat. Just ask any "think tankist" - they all hate the middle class as it spoils their numbers. So bad for the band in blue.
2. Middle class and the band in red - no comment needed.
So the merits of the scheme are utterly irrelevant here. It will be the socioeconomic effect of the scheme which will decide its faith and that at this point is guaranteed an empathic thumbs-down from 2/3rds of the political establishment.