Text Summarization is a process where a huge text file is converted into summarized version which will preserve the original meaning and context. The main aim of any text summarization is to provide a accurate and precise summary. One approach is to use a sentence ranking algorithm. This comes under extractive summarization. Here, a graph based ranking algorithm is used to rank the sentences in the text and then top k-scored sentences are included in the summary. The most widely used algorithm to decide the importance of any vertex in a graph based on the information retrieved from the graph is Graph Based Ranking Algorithm. TextRank is one of the most efficient ranking algorithms which is used for Web link analysis that is for measuring the importance of website pages. Another approach is abstractive summarization where a LSTM encoder decoder model is used along with attention mechanism which focuses on some important words from the input. Encoder encodes the input sequence and decoder along with attention mechanism gives the summary as the output.