Microsoft .NET is a framework that consists of the Common Language Runtime (CLR) and Framework Class Library (FCL). The CLR defines a common programming model and standard type system for cross-platform, multi-language development. .NET supports multiple languages like C#, VB, C++ that compile to Microsoft Intermediate Language (MSIL) for execution on any supported platform by the CLR through just-in-time compilation. The FCL provides classes for common functions like file/data access, networking, and more.