Hello Prerak007,
output drops may be a sign of an excessive traffic over a group of ports that share an ASIC hardware chip.
if you see these counters on linecard modules less then WS-67xy modules, you are likely facing performance issues
see the following document for more details
>> When you use either the WS-X6548-GE-TX or WS-X6148-GE-TX modules, there is a possibility that individual port utilization can lead to connectivity problems or packet loss on the surrounding interfaces.
http://www.cisco.com/en/US/products/hw/switches/ps700/products_tech_note09186a00801751d7.shtml#ASIC
Hope to help
Giuseppe