Take a big microwave safe bowl and add oil and ghee. Choose a big bowl because rava will rise well while cooking and it may spill. Add cashews and roast for 2 minutes on high power (800W). Keep an eye after 1 minute; if cashews turn golden brown quickly, remove them. Remove cashews alone and add rava to the oil and ghee mixture. Mix well so that rava is well coated without any lumps.
Roast the rava on high power for one minute. Open the microwave, mix well and again roast it for a minute. So roasting takes two minutes here. Take care that rava doesn't get burnt; stand nearby and watch carefully. Remove the rava bowl and keep aside.
In a separate vessel, heat water on gas stove till it starts to roll boil and add it to the roasted rava. Take care, it splashes. After adding water, add food color. Mix well without lumps.
Cook the rava for two minutes on high power covering with a lid. After 2 minutes, remove the bowl, mix well, cover with the lid and cook again for one minute. Rava will thicken and get cooked very well.
Remove the bowl, add sugar and essence or cardamom powder, and mix well without lumps. The mixture will turn watery and small lumps may form. Mix quickly and break the lumps. As you mix, the mixture will thicken slightly due to the heat of the glass bowl and lumps will break.
Keep it on high power for 30 seconds, remove and mix well. You will see the rava leaving the sides of the bowl. Immediately add 2 tsp of ghee. Mix well and transfer to a plate or bowl. The mixture will be semi-solid initially, but it becomes thick and well-set as it cools down.
Serve in a bowl by garnishing with roasted cashews. You can also reheat the kesari for one minute on high power before serving. Enjoy!