If the President of India exercises his power as provided under Article 356 of the Constitution in a particular State, then

If the President of India exercises his power as provided under…

the Assembly of the State is automatically dissolved.
the powers of the Legislature of that State shall be exercisable by or under the authority of the Parliament.
Article 19 is suspended in that State.
the President can make laws relating to that State.

Answer

(a) Incorrect. Under Article 356, the State Assembly is not automatically dissolved; it may be either kept under suspended animation or dissolved later.
(b) Correct. When President’s Rule is imposed, the powers of the State Legislature are exercisable by or under the authority of Parliament.
(c) Incorrect. Article 19 is not suspended during President’s Rule under Article 356; such suspension is linked to National Emergency under Article 359/358, not State Emergency.
(d) Incorrect. The President does not directly make laws for the State; Parliament legislates, and the President may issue ordinances or authorize expenditure in limited constitutional ways.

Therefore, the correct answer is (b).