Wash rice and drain.
Heat ghee in a large pan over medium heat.
Add green chillies, cinnamon, cloves, cardamom and bay leaves. Stir for few seconds.
Add jaggery and when it melts, add rice. Saute for 5 minutes.
Add coconut milk and water in measured quantity.
Increase the heat and bring to boil. Then lower the heat, cover and cook for about 15-20 minutes, till all the liquid has evaporated.
Sprinkle grated coconut, cashews and raisins.
Lightly fluff the rice with a fork.
:- Serve hot.