Question

State the physical significance of moment of inertia of a body,​

Answer 1

Moment of inertia is the mass property of a rigid body that determines, the torque needed for a desired angular acceleration about an axis of rotation. Moment of inertia of a point mass w.r.t. an axis of rotation is defined as the product of the mass and the square of the distance from the axis.

moment of inertia is  a measure of how difficult it is to rotate a particular body about a given axis.

significance:

Greater the mass concentrated away from the axis, greater the moment of inertia.

Take a baseball club. If you rotate it by holding the handle, you have to put in more effort than when you rotate it by holding it at the hitting end.