Set Instant pot (IP) on 'Saute'. Add the moong dal and dry roast it for 2~3 minutes or until fragrant and the color changes to light golden brown. Turn off IP. Remove roasted dal into a sieve or bowl and wash it along with the rice.
Return dal and rice to the IP. Add water and milk, mix well. Set the IP to 'manual' or 'pressure cook' for 8 minutes. Once done, let the pressure naturally release for 15 minutes and then do a quick release.
While the rice and lentils are cooking, make the jaggery syrup. Combine jaggery and water in a small saucepan. Cook on medium heat, stirring occasionally, until jaggery dissolves and the syrup thickens a little bit, about 3~5 minutes.
Add the syrup to cooked rice and dal. Mix well.
Heat ghee in a small pan, add the cashews and raisins and fry till golden. Add this to the pongal. Finally stir in the ground cardamom, cloves, nutmeg and saffron. Mix well and serve!!