Step 1: Understanding the Concept:
The question asks to identify the leader of the historic all-India railway strike that took place in 1974.
Step 2: Detailed Explanation:
The nationwide railway strike of 1974 was one of the largest industrial actions in Indian history. It was led by the trade union leader George Fernandes. At that time, he was the President of the All India Railwaymen's Federation (AIRF). The strike began on May 8, 1974, and lasted for 20 days. The railway workers were demanding better working conditions and a revision of their wage structure. The strike was suppressed with a heavy hand by the government of Prime Minister Indira Gandhi.
Step 3: Final Answer:
The rail strike of 1974 was led by George Fernandes.