Rinse the Rice: Wash the rice thoroughly under running water until the water runs clear. Drain the rice and set it aside.
Prepare the Milk: In a heavy-bottomed pan, bring the milk to a boil over medium heat. Once boiling, lower the heat and let it simmer gently, stirring occasionally to prevent it from burning.
Cook the Rice: Add the rinsed rice to the simmering milk and cook on low heat. Stir the rice occasionally to ensure it cooks evenly. Let the rice cook in the milk for about 20-25 minutes, until it becomes soft and the milk has thickened. If needed, add more milk during cooking to achieve the desired consistency.
Add Sugar and Spices: Once the rice is fully cooked, add sugar, cardamom powder, and saffron (if using). Stir well to combine. Continue to cook for another 5-10 minutes until the sugar has fully dissolved, and the mixture has thickened to a pudding-like consistency.
Prepare the Garnish: In a separate small pan, heat 1 tablespoon of ghee. Add the cashews, almonds, and raisins, and sauté until the nuts turn golden brown. Pour this mixture into the rice pudding.
Serve: Remove the Annam Paramannam from the heat and let it cool slightly before serving. Garnish with chopped pistachios (optional) for an extra touch of flavor and color.