Rinse basmati rice under cold running water 3-4 times. Place in a large bowl. Cover with water. Soak for 30 minutes. Drain water. Set aside.
To cook rice, bring a large pot of water (approximately 10 cups of water) to boil. Add rice, lemon juice and oil. Season with salt. Stir gently. Cook, covered, for about 10 minutes or until rice is tender. Drain water. Set aside.
To make saffron milk, combine together saffron and milk in a small bowl. Set aside for 10 minutes.
Meanwhile heat 1 tablespoon ghee or oil in a large frying pan. Add cinnamon stick, cardamom pods, bay leaf and cumin seeds. Sauté, stirring, for one minute or until aromatic.
Add ground turmeric. Stir fry for 30 seconds.
Add rice and saffron milk. Stir fry for 2-3 minutes.
Garnish with fried onions and cashew nuts (if using).
Serve with your favorite curry or Indian stir fry.