Hello aspirant,
Yes, the change is also for PHD holders.

New National Education Policy, NEP 2020 has been launched which proposes a significant change in higher education structure of the country.

Making it more flexible, the NEP 2020 offers the students the option of choosing a 1 year Diploma, a 3 year bachelors degree or a 4 year bacherlors' degree with research across disciplines

M.Phil would be discontinued, paving way for students with masters' degree to get a Ph.D.

For doctorate, the students who have completed their masters would be eligible for pursuing Ph.D. The M. Phil programmer would be discontinued, as proposed by the NEP.

I hope this was helpful!
Best wishes!