After second day's play was washed out, 54 overs was possible as Railways added another 163 runs to their total.
Rawat's 44 came off 54 balls with eight fours while Ghosh was on 31 off 60 balls.
Earlier No 3 Rohan Bhosale scored a patient 54 off 159 balls with four boundaries and a six adding 86 for the second wicket with Nitin Bhille (45). He also added 44 runs with the portly Arnab Nandy (33).
"Three points is better than one and we will go for it," the former India speedster said.
J&K captain Parveez Rasool also said that his team would go for the chase as they are still in contention for a qarter-final slot.
Brief Scores: railways 213 for four in 77 overs (Rohan Bhosale 54, Mahesh rawat 44 batting, Arindam Ghosh 31 batting, Nitin Bhille 45, Arnab Nandi 33, Umar Nazir 1/38).