"I used to undersay that except in politics in other areas of life surnames don't matter. But now it appears even in politics it matters a little less.
"Merely (because) you came from a distinguished family and somebody else came from less distinguished (family)...," the senior BJP leader said.
Although he did not name anyone, the reference was apparently to parties like Congress and Samajwadi Party with top leadership dominated by families and which did not do well in the elections.
Arun Jaitley, who was addressing students of the prestigious Shri Ram College of Commerce (SRCC) here, said the world today offers entirely different kinds of opportunities.
Talking about the economy, Arun Jaitley said in the last few years it has slowed down.
India growth, which was 8-9 per cent during the global economic crisis, slipped to below 5 per cent in the past two financial years.
The Finance Minister said as a result of lower growth, the job opportunities have shrunk, economic activities have contracted and government's revenue collections was down.
"I think we need to re-emphasise debate which has been going in the country for last 24 years, do we want an over regulated society, do we want high taxation society...," he said.