Heat 2 tablespoons of ghee in a heavy-bottomed pan over medium heat. Add cashews and fry until golden brown, then add raisins and fry until they puff up. Remove and set aside.

In the same pan with remaining ghee, add vermicelli and roast on medium-low heat, stirring continuously for 4-5 minutes until golden brown and fragrant.

Add 1 cup water to the roasted vermicelli and stir well. Cook for 2-3 minutes until vermicelli softens and absorbs most of the water.

Pour in the milk and bring to a gentle boil, stirring occasionally. Reduce heat and simmer for 8-10 minutes.

Add sugar and stir until dissolved completely. Continue simmering for 5-7 minutes, stirring frequently as the payasam thickens.

Add cardamom powder and half of the fried nuts. If using saffron, soak in warm milk and add now. Mix well and cook for 2 more minutes.

Turn off heat and let rest for 5 minutes. Garnish with remaining fried nuts and serve warm or chilled.