In a medium saucepan, heat the vegetable oil over medium heat. Add the chopped onion and garlic, and sauté until the onion is translucent.

Add the rinsed rice to the saucepan and cook, stirring frequently, until the rice is lightly toasted, about 2-3 minutes.

Stir in the diced tomato, cumin, chili powder, and salt. Cook for another minute.

Pour in the vegetable broth and bring to a boil. Once boiling, reduce the heat to low, cover, and simmer for 15-20 minutes, or until the rice is tender and the liquid is absorbed.

Remove from heat and fluff the rice with a fork. Stir in the thawed peas and carrots.