Heat 1 tablespoon ghee in a large pan over medium-low heat. Add raisins, and fry until plump. Drain on an absorbent paper towel. Set aside. Add cashew nuts to the same pan. Fry, stirring, for 2 minutes or until golden. Drain on an absorbent towel. Set aside.

Add vermicelli. Fry, stirring continuously, for 4-5 minutes or until golden. Pour in milk. Increase the heat, and bring to the boil. Stir occasionally so that milk won't stick to the bottom of the pan. Reduce the heat to medium. Simmer for 2-3 minutes or until vermicelli starts to cook. Continue stirring occasionally.

Add sugar. Simmer for another 2-3 minutes or until vermicelli is cooked. Add ground cardamom, and let the pudding heat through. Garnish with raisins and cashew nuts. Serve payasam warm or chilled.

As payasam cools down, it will become more thick. If it's too thick, add some milk and boil for 1-2 minutes.