Heat three tablespoons ghee in a thick-bottomed pan, add carrots and sauté for three to four minutes.
Add milk and cook on medium heat for six to seven minutes or until the milk evaporates and carrot is cooked.
Meanwhile heat remaining ghee in a separate pan and shallow fry cashewnuts and raisins till cashewnuts turn golden brown. Drain and set aside.
Add sugar to cooked carrots and cook, stirring continuously, for two to three minutes or till the sugar melts.
Add khoya and green cardamom powder. Stir and cook for three to four minutes.
Add cashewnuts and raisins and continue to cook for two minutes more. Serve hot or at room temperature.