Take a wide deep bottomed heavy pan. Add in the water and the milk.
Let it come to a boil. Once it comes to a boil add in the washed rice to the pan. Keep cooking on medium high flame.
The milk mixture will start evaporating and reducing in volume. The milk mixture would have approximately reduced by half after 30-40 minutes.
After about one hour and 15 minutes, the mixture would have become creamy in colour and thicker in consistency. Add in the sugar and mix well. Let it boil for 2 minutes. Switch off the flame and add in powdered cardamom. Mix well to combine.
Heat ghee in a pan and add in the broken cashew nuts. Fry on low flame until the nuts are slightly golden. Add it to the pal payasam.
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