Set the Instant Pot mode to 'Saute' and wait till the display reads 'Hot'. Add Olive Oil and garlic.
Once the raw flavor vanishes; add onions and green peppers. Mix well and sauté for a couple of minutes.
Next add the drained Basmati Rice and mix.
Toast the rice for 3-4 minutes.
Then, add jalapeño, Taco Seasoning, Cumin Powder and salt.
Mix and add water/ Vegetable Stock. Stir well.
Add the tomatoes and salsa. DO NOT stir.
Close the lid and set valve to sealing. Press 'Cancel' and press 'Pressure Cook'/'Manual'. Set timer to 5 minutes and let the rice cook.
Once the Instant Pot beeps, let the pressure release naturally for 3 minutes. Then remove the remaining pressure and open the lid.
Add cilantro and lime juice and let the rice cool for 3-4 minutes. Fluff the rice using a fork and serve with beans and corn.
Video
Notes
Note: Nutrition values are my best estimates using an automated calculator. If you rely on them for your diet, use your preferred nutrition calculator.