If you close your wallet and wait a few days, the transaction will be dropped from the network and BTC will return to your wallet. After that you can make a new transaction with appropriate fees.
(It is important to NOT launch your wallet because your wallet will keep re-broadcasting the transaction to network and it will never get dropped or confirmed. It will be stuck in limbo forever)
Bro i sent it from my blockchain wallet.. So by ur suggestion i shd log out from wallet n log in after few days?? Is it wat u sayin
In that case I don't have any idea, I've never used that online wallet.
I use Electrum which has a very useful feature "Replace by fee". It gives you a chance to broadcast a stuck transaction with higher fees. Highly recommended. I would suggest getting your private key from Blockchain.info and importing it in Electrum to see what happens. Online wallets are not recommended anyways for security reasons.