Rail industries across the world have been increasing axle load, speed and traffic density to improve the productivity. However, these are coming at a cost of Rolling Contact Fatigue (RCF) and risks due to derailments. Current trend is monitoring and control of RCF through corrective, preventive gradual and preventive grinding. A lot of research has been carried outin the past three decades to improve the rail grinding process. The Grinding quality index (GQI) which is the measure of grinding effectiveness using closeness to target profile does not take into account the impact of RCF. This paper is on analysing the rail grinding process and how to develop best practice in grinding. A more appropriate (GQI) index is proposed which can be used for cost benefit model and extended to a combined above rail and below rail model. There is a need to develop cost benefit model for the best practice rail grinding combining above rail and below rail assets.