Correct Option: D

A state of emergency in India refers to a period of governance under an altered constitutional setup that can be proclaimed by the President of India, when he/she perceives grave threats to the nation from internal and external sources or from financial situations of crisis. The President can declare three types of emergencies: National emergency (caused by war, external aggression or armed rebellion in the whole of India or a part of its territory), State emergency (declared on failure of constitutional machinery in a state) and Financial emergency (if the President is satisfied that there is an economic situation in which the financial stability or credit of India is threatened).