Suggest any Best PC Game for me.Racing,Action,1st person shooter,etc?

To be honest your system is on the low end of playing games. If they say you meet min criteria, it usually means playing everything on low and at 30 frames per second. Try checking for updates to your graphics card and things such as using a thumb drive as ready boost ram or configuring your virtual memory.

As for a suggested game, I've always enjoyed the burnout series for racing. Minecraft is a popular indy game (kinda like legos on steroids). For good RPG/Action games try elder scrolls series (Morrowind has a deeper story and more on magic while oblivion is a better action game, Skyrim will eat your system). For FPS games I would try to find a demo to see if the game will run on your system as they tend to be the most intensive games. For multiplayer I would suggest trying team fortress 2 or counterstrike as the both have plenty of players and while not new, the graphics arn't terrible.

Another route would be free to play games while saving for a new system. Some sites such as steam and ijji have a list of free to play games while offering a download client.