The M.Phil program is a 1 or 2 year program offered by a lot of universities across India and is primarily an advanced degree which is pursued by those who want to do research and get into academics after that. I am not sure though whether you will be go for it without an M.Sc/M.Tech degree as it is an advanced Masters degree and cannot be taken just after graduation. Also you need to have a good acumen for research as well as a good GPA during both your graduation and post graduation to be able to fully understand this course and pursue it. You can also choose to do a Ph.D after it.
Hope this helped!