Copy all dependencies from .Net Standard libraries to .Net Framework Console application
After going through an article by Scott Hanselman, below solution worked like a charm.
Add below line in the first "PropertyGroup" tag of the .net framework console application's ".csproj" file
<RestoreProjectStyle>PackageReference</RestoreProjectStyle>
There will not be any need to add again the .net standard projects' nuget dependencies in the console application.