No consequences.You feel bad for a week or two. Then you gather courage to give the exam the next session and pass again. Things will be no different either you pass or fail the exam.So no reason to panic. However, you might fall behind your peers in your career by 6 months or so. Again, no big deal.
P.S: I failed my MS exam, cleared it again 6 months later.
Kesha Megharaj, MBBS Bachelor of Medicine and Bachelor of Surgery Degrees, Gandhi Medical College, Hyderabad (2013)
Source: Quora Digest