.NET is a software framework from Microsoft that allows developers to create web services and applications. It integrates technologies for presentation, components, and data on a single platform. The .NET framework includes the Common Language Runtime (CLR) which provides services like memory management, security, and interoperability. It also includes class libraries for common tasks like input/output, strings, files and more. Visual Studio .NET provides an integrated development environment (IDE) for building, debugging and deploying .NET applications.