Visual Basic .NET (VB.NET) is a programming language and framework used to create applications for Windows and web. It is a successor to Visual Basic that uses the .NET framework. VB.NET allows programmers to create both graphical user interface elements and event procedures that respond to user actions. Developing a VB.NET application involves designing the interface, listing needed controls and events, writing pseudocode, implementing the code, testing for errors, and debugging. Integrated development environments like Visual Studio and relational databases are typically used along with VB.NET.