Is M.Phil a research degree?

Yes, M.Phil. is a specific research programme which can be taken after graduation for a master's degree in Philosophy. The M.Phil. course included philosophical study in various specific speacializations such as History, Economics, Psychology, and others. 

For admission eligibility, M.Phil. demands a

Yes, an MPhil is considered a research-oriented degree(advanced postgraduate degree) that primarily focuses on conducting independent research, though some of the programs also include a coursework component. It involves substantial research work and is not as expensive as a PhD.