Cook grated carrots, milk and sugar in a heavy bottomed pan on medium high heat, stirring occasionally for about 30-35mins, until all the moisture evaporates.
Add the grated paneer and 5tbsp ghee and continue to cook on medium heat, stirring and combining everything well occasionally until the halwa starts leaving the sides of the pan and all the fat starts to ooze out.
Add the milkmaid at this point and cook until moisture evaporates.
Add the cardamom powder and mix well.Turn off the flame.
Heat the 1 tbsp ghee on low heat. Add the chopped dried nuts (except pistachios) and raisins and saute for about a minute, until the raisins plump up and the cashews are golden.
Pour this over the halwa and serve warm or at room temperature.