Soak rice in water for an hour before preparing the payasam. Grind it with coconut and 1/4 cup water, to a paste.
Mix the ground paste with 2 cups water and bring to boil. Cook in medium flame for 10 – 12 minutes. Do not forget to stir in between to avoid burnt bottom.
Meanwhile, heat approx. 1/2 cup water and dissolve jaggery in it. Filter in a metal strainer to remove any impurities. Make sure the syrup is not too watery. So use less water.
Now, the coconut and rice would have got cooked (should be a thick porridge like consistency). Add the jaggery syrup and powdered elachi to it. Mix well.
Bring to boil and switch off the flame. Heat ghee in a pan and roast the cashews, broken, to golden brown and transfer to the payasam and mix well. Add milk lastly after 5 minutes of time.