Ashish,
Selective include is not possible at the moment. This is an enhancement that we are already considering for a future MyEclipse release.
As a workaround, you can create a user library with the jars you want to exclude and add this user library to the build path. You can then go to Project > Properties > MyEclipse > Web > Deployment and then uncheck the “Jars in Web Projects user libraries” under Deployment policies.