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Bring water to a boil in medium saucepan on medium heat.
Add rice, salt, basil and black pepper. Reduce heat to low. Cover; simmer 40 to 45 minutes or until water is absorbed and rice is tender.
Heat oil in large skillet on medium-high heat. Add carrot, red pepper, yellow squash, zucchini and green onions. Cook and stir 5 to 7 minutes or until tender.
Transfer rice to serving bowl. Add vegetables; toss to combine. Serve immediately.