The President of India can declare three types of emergencies—national, state and financial.
National emergency is caused by war, external aggression or armed rebellion in whole of India or a part of its territory. In such emergency, Fundamental Rights of Indian citizen can be suspended.
State emergency is declared by the President due to breakdown of constitutional machinery irt'a state.
When the financial stability or credibility of India is threatened, then the President of India may issue a proclamation of Financial emergency.