Is it possible to get data back up in excel format. (I am using Cloud version from last 6 months)
No. Not of the entire business file.
What is your main concern, @shabeeb?
You can always back up the business file in the Manager format, and then keep a copy of Desktop Edition on a computer somewhere that you can restore to.
This will resolve any concerns with being locked-in to a paid version of the software.
If you are looking for the flexibility to switch to a different accounting software entirely, you will find that - as @Tut mentioned - only certain modules are exportable to Excel. Not the whole business file. But you could enter starting balances into the new application.
If none of the above solves your problem, you may need to explain how you intend to use the data - so that we can suggest a solution.