Rinse 100 grams of rice in water and soak it for 20 minutes. Drain the water and set aside.
In a heavy-bottomed pan, heat 1 liter of milk on medium flame. Once it starts boiling, add the soaked rice and cook until the rice is soft and the milk has thickened, stirring occasionally to prevent sticking.
Add 200 grams of sugar to the rice and milk mixture, and stir well until the sugar dissolves completely.
In a separate pan, heat 2 tablespoons of ghee. Add 1 teaspoon of cardamom powder, 10-12 cashews, and 10-12 raisins. Fry until the cashews turn golden brown and the raisins puff up.
Pour the ghee mixture with the nuts and raisins into the payasam and mix well.
Cook the payasam for another 5 minutes on low flame, then turn off the heat and let it cool down a bit before serving.