Under what circumstances can the President proclaim a State of Emergency in the country?

The President can proclaim a state of emergency in the country in the following circumstances:

1. National Emergency can be declared when whole of India or a part of its territory in case of war or external aggression or armed rebellion.
2. State Emergency can be declared when the President feels that the constitutional machinery has broken down or the government can not be carried-out according to the provisions of the Constitution.
3. President can proclaim a Financial Emergency when the financial stability or credit feasibility of the nation or of any part of its territory is threatened or has occurred or is likely to occur.