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As I have SharePoint 2013 Standard version, I will not get "Business Data" web parts. Hence I can't use Excel Web Access Web Part to display and edit Excel on SharePoint.

Do anyone know how to implement it in such situation apart from any third party web part?

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you need the excel service application in order to take the advantage of functionality but this required Enterprise edition.

Or you can use 3rd party web parts.

Or you need the Office web apps

Or you can open the excel in client and edit it. check this http://blogs.technet.com/b/officeasia/archive/2013/01/09/configure-sharepoint-server-to-open-office-documents-in-client-application-by-default.aspx

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