Can we exclude the particular posts categories using if or else statement?
Not real clear what you mean.
First google result for jekyll exclude category:
Do you mean to exclude posts completely from the site? Or just in specific places.?
We can use if-else to filter specifically, that will work. So if you want to exclude a post somewhere based on the category, you can use that. But as a post may specify multiple categories you will probably need some array operations or a for-loop as well.
For example:
We have four different categories: A, B, C, D
On the homepage we see the blog posts from all 4 categories and it get listes according to the date. Right?
I want that from that list of blog posts on homepage, it should not show the blog posts of D category.
Can that be possible?
Yes, but you will have to modify the theme.
Somebody correct me if I am wrong, but I do not think that this is supported out of the box.
Are you using minima? (The default theme)?
I think you didn’t got my point. 
Modifying a theme is not so difficult. But you do need some html/css and possibly programming experience.
you can use the snippet example that @rdyar provided just change out the operator
{% if post.category != "D" %}
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