Soak the saffron threads in the milk and keep it ready. Heat a pan with ghee.
Add condensed milk to the pan. Start stirring condensed milk until the milk and clarified butter gets incorporated fully.
Add the milk powder to the pan. Keep stirring till the fudge (peda) mixture starts to thicken. When the peda mixture gets thick, add milk with saffron threads to the pan.
Again, keep stirring till the whole mixture gets thicker and fluffy and rolls like a ball without sticking on to the sides of the pan. Also, we could notice that the peda mixture would have got a nice colour. Remove the pan from flame and allow the peda mixture to cool off till you can hold the mixture.Take lemon size quantity out of the mixture and make smooth ball and using your point finger, just press a little in the middle to make a small impression. (Or make a decorative impression).
Repeat this for the rest of the dough. Garnish each fudge/ peda with chopped pistachios.