@BalwantChauhan: One common usage of Runnable interface is that as we know that multiple inheritance is not possible in case of Java. Now suppose you have a scenario where you want extends a class and also you want to implement thread. So for those scenario if we go ahead for Thread then it is not possible to achieve it.
For example : Suppose (in case of Java Swing), if you want to create a frame and also in that frame class you want to implement thread, then it is not possible to extends JFrame and Thread class so in that case we extends JFrame and implement Runnable.
public class HelloFrame extends JFrame implements Runnable{
...
public void run(){
// thread code
}
...
}