Preheat the oven to 350°F. Brush a 9×13-inch casserole dish with the 1 tablespoon softened butter.
Spread the 2 cups rinsed and drained basmati rice evenly in the prepared dish.
Sprinkle the 1 teaspoon paprika, 1 teaspoon ground cumin, and 1/2 teaspoon salt evenly over the rice.
Pour the 4 cups boiling water over the rice and seasonings.
Gently stir to combine, then cover the dish tightly with aluminum foil.
Bake in the preheated oven for 20 minutes.
Remove the dish from the oven and carefully lift the foil to avoid steam. Add the 1/2 cup chopped cilantro and the juice of 1 lime, then gently stir to combine and fluff the rice before serving.