According to the Indian Constitution, the power to declare an emergency lies with the President of India. This provision is mentioned in Article 352 of the Indian Constitution. The President can declare three types of emergencies: national emergency, state emergency, and financial emergency. A national emergency can be declared in cases of war, external aggression, or armed rebellion. A state emergency can be declared if there is a failure in the constitutional machinery of a state. A financial emergency can be declared if the economic stability or credit of the country is threatened. The President exercises this power after receiving a written recommendation from the Union Cabinet. It is important to note that the Prime Minister, Chief Justice, or Parliament do not have the authority to declare an emergency.