Rotate annotations like Foxit PDF Editor let you do it

​@NicKPreem Sounds like this is one area where Foxit PDF Editor is still more convenient than Acrobat! Foxit's on-object rotation handles for annotations are much easier than Acrobat non- existant on-object rotation. Maybe custom JavaScript might be a way. 

How  can we rotate text fields in acrobat

To rotate a form field, go to Properties: General

How  can we rotate objects annotations

See justlearnskills answer.
You can rotate annotation in exactly the same way as in Foxit.

AFAIK, you can’t rotate annotations.

I assume by “text fields” you are referring to a form field, you can rotate them under the Properties panel (General tab>Orientation). It won’t visibly rotate the field but the text will be rotated, so you just have to resize the field to the rotated size.

​@NicKPreem If you select the text box or images, either through Tools > Edit PDF or Prepare Form, you should see a blue rotation handle above the selected object. You can click and drag that handle to rotate the text box, images or form field to the desired angle. The green-circled blue icon in your screenshot is the rotation handle, text boxes, images and form fields can often be rotated directly using this handle once they are selected.