Which of the following Articles of the Constitution of India provides power to the President for promulgating ordinances?

Article 123

The correct answer is Option 3 - Article 123

The article in the Constitution of India that empowers the President of India to promulgate ordinances when the Parliament is in recess is Article 123.

This article outlines the conditions and limitations under which the President can issue ordinances, which have the same force as an Act of Parliament but are temporary in nature.