Is there any standard way in VLC to show FPS ?
If by FPS you mean the frame rate at which a video is played, you can access that information while playing by clicking on Tools >>> Codec information. In the video stream there should be a row with that information. (I'm basing myself on a Windows 2.0.2 version but it should also be valid for any other GUI).
If on the other hand you're looking for a overlaid FPS display I believe VLC doesn't do that, as mentioned before, but there should be some third party solutions.
If you want to see the fps counter because you suspect the VLC is dropping frames, you can see the lost/dropped video frames and audio blocks in statistic tab. You can also see the input bitrate graph, content bitrate, demuxed data size and more.
- Media Information (ctrl-j for shortcut)
You can also use MPV to see statistics of the playing video with I keyboard short-cut. Because MPV has less GUI you probably will get better fps and CPU usage.