I am trying out Node.js Express framework, and looking for plugin that allows me to interact with my models via console, similar to Rails console. Is there such a thing in NodeJ
This may not fully answer your question, but to clarify, node.js is much lower-level than Rails, and as such doesn't prescribe tools and data models like Rails. It's more of a platform than a framework.
If you are looking for a more Rails-like experience, you may want to look at a more 'full-featured' framework built on top of node.js, such as Meteor, etc.