While the intentions of the law are forward looking, implemntation will throw up a lot of issues. I am optimistic that despite the confusion that next few years will bring, this is a step in the right direction. Childcare is a social and not a woman's responsibility and a modern society has to go back to the ways children were raised: socially.
However, we can't deny the issues. Regulations, infrastructure and affordability will be key issues. For example, this news item talks about startups. Here is an excerpt:
Varun Sheth, Founder and CEO of Ketto, a promising crowdfunding startup, had this to say, “Smaller startups battling budget constraints will not prefer females since the cost of hiring them would increase too”.