Grate Carrots finely.
Heat Ghee in an heavy bottom pan(uruli) and saute carrots in it.
Add the milk to it and cook in low flame for few minutes.
When carrots are being cooked and when the milk starts to drain add the sugar.
When the sugar is being dissolved add the left over milk and bring it to boil.
Add the condensed milk and stir it well.Bring to boil.
Add the cashew nut paste now and also add the cardamom powder.
Take out of flame when the payasam gets thickened.
Yummy Carrot Payasam is ready to be served.