In a 12-inch skillet, combine the oil, garlic, onion, and carrots. Cook on medium-high 5 min., until garlic is golden, stirring occasionally.
To skillet, add the beef. Cook 5–6 min., until browned, stirring and breaking up meat with a spatula. Meanwhile, heat the rice according to package directions.
To beef, add the fish sauce and cook 1 min. Remove from heat and stir in the basil and lime juice. Serve over rice.