The .NET Framework is a development platform that simplifies application development. It allows building of web, Windows, and console applications. The framework includes common language runtime (CLR) and framework class library (FCL). CLR manages execution and provides services like just-in-time compilation to native code. FCL contains reusable classes organized in namespaces for areas like system, data, and web. The framework also defines a common type system (CTS) that all .NET languages share for cross-language integration.