Heat oil in a medium saucepan over medium-high heat until shimmering. Add cloves and cinnamon and cook until fragrant, about 20 seconds. Add chillies and onions and cook, stirring frequently, until golden brown, 6 to 8 minutes. Add rice and cook, stirring frequently, until nutty, about 2 minutes. Add peas and cumin powder and cook, stirring constantly, for 1 minute longer. Add water and salt, bring to a boil, and reduce to lowest heat setting. Cover with lid and allow to cook until all the water is absorbed, about 10 to 12 minutes. Serve hot with daal or raita.