Wash and soak the rice for 10 minutes
Boil the milk and reduce the quantity to approximately 700 ml and keep aside.
Heat 1 tablespoon ghee in a pressure cooker and roast the cashew nuts. Take them out in a plate and keep aside.
Add the remaining ghee in the pressure cooker and add the rice into it after draining the water.
Stir it for few minutes and later add the reduce milk into it.
Now allow the milk to boil and close the lid of the pressure cooker.
Wait for 1 or 2 whistles and switch off the gas.
Allow to release the pressure and after opening the lid add sugar, water and cardamom powder. Mix them well.
Now cook it under medium to slow flame for 10 minutes and keep on stirring to avoid burning.
Finally switch off the gas and garnish the paal payasam with roasted cashew nuts.
Allow it to cool for some time and serve.
