Note
Traditional paal payasam is made from just milk, rice and sugar. Saffron and cashew is just added for additional flavor and variation.
Taste and adjust sugar as per your taste.
Some recipes call for cooking rice in milk only till reduced to about half the original quantity. In that case about a litre and a half or more milk is needed. But I personally prefer this method where the rice grains are more softer and the payasam is altogether velvety and nice.
Adapted from Our family recipe diary