Pressure cook the cracked wheat in 2 cups of water on medium heat with a closed vent. Let the vent go off 3 times and then switch off the gas.
Once the cooker cools down, open the lid and add jaggery and stir. Turn the gas on medium heat and allow the jaggery to melt before adding the coconut milk.
Let the coconut milk boil for approximately 5-6 minutes and then add milk and cardamom powder and stir it well. Reduce heat to a simmer.
Meanwhile, in a separate pan, heat a tablespoon of ghee on medium heat, fry cashews till they are golden brown, add raisins and once the raisins double in size.
Add the nuts and raisins to cracked wheat payasam and mix well. Take it off heat and serve hot.