Five opposition parties requested the vote, after a preliminary EU report concluded the subsidies amounted to a conflict of interest because he still formally controls the businesses.
Babis' centrist ANO (YES) movement is in a minority government with the leftist Social Democrats with support from the Communist Party. They have enough votes for Babis to survive Wednesday's vote.
But the move by the opposition was boosted by recent massive street protests demanding the resignation of Babis.
Babis denies wrongdoing.
Prosecutors are also looking into whether to indict Babis over alleged fraud involving EU funds in a separate case.
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