What is this Google Settings app that installed itself on my phone?

Today, all of a sudden I saw this app in my *Samsung Galaxy Y* mobile phone: I am talking about the app named "Google Settings" I uninstalled it immediately only to find it installed again a few hours later. My mobile phone is rooted and I did have access to internet through the phone during this period? Can anyone tell me as to what is going on? Should I worry? What should I do?