The President can make proclamation of three kinds of emergencies:-
Emergency due to war-This emergency can be imposed if the security of India or any part of it is threatened by war or external aggression or armed rebellion.
Emergency due to Constitutional Breakdown- The Constitution authorises the President to make a proclamation of emergency if he is satisfied that the Government of a State cannot be carried on in accordance with the provisions of the Constitution. The proclamation of emergency due to Constitutional breakdown has been riddled with confusion and controversy. The Supreme Court has ruled that the courts may possibly strike down a proclamation if it is shown to have been issued mala fide or on grounds of political gains.
Financial Emergency- The President can declare Emergency if he is satisfied that a situation has arisen whereby the financial stability or credit of India or of any part of its territory is threatened. Till date, no proclamation of this type of Emergency has been made.