Explain the three circumstances when the President can exercise his emergency powers. 

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The President can exercise his emergency powers in three types of emergencies: national emergency, state emergency, and financial emergency.
National Emergency is imposed by the President on request by the Prime Minister’s cabinet of ministers. Article 352 of the Indian Constitution states that an emergency can be called in the event of imminent danger to the national security due to armed rebellion, war or external aggression.
State Emergency is often referred to as President’s Rule. State emergency is declared under Article 356, in the event when the state government collapses and the constitutional machinery fails in a particular state. It can be imposed for a period of six months and can last only for three years with parliamentary consent required every six months. The Governor, the President’s representative in the state, governs the state under emergency in the name of the President.
Financial Emergency is imposed by the President if he reckons financial stability of the country is in danger. Article 360 empowers the President to declare this emergency on the condition that it would be approved by the Parliament within two months of its enforcement.

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