The present paper looks into the situational analysis of weavers of Banarasi saree, Varanasi, Uttar Pradesh. The life of weavers is characterized by abject poverty, chronic malnutrition, varied health hazards and even hunger deaths and suicides. In-put cost is unbearable for many and profit is taken by middlemen. Globalization has severely affected economically vulnerable small weavers pushing them below poverty line. State machinery is apathetic and whatever schemes and programmes exist, fail to do any good to weavers who are battling hard to keep this one of the finest legacies of Indian culture alive. Situation of women and children is worse. Women are engaged in mundane work of thread-cutting, zari-filling and the like and are paid merely Rs.10-15 per day for 12-16 hours of work. Children are denied schooling to speed up saree-production. Suggestive interventions are highlighted in the paper.