Referring to the Congress, he said "in a dynasty, the strength of the party is in relation to the ability of its current leadership".
He said: "There is a strong anti-incumbency mood emerging ... this is happening after 1977 and 1989 when governments with majority lost elections."
Jaitley, leader of opposition in the Rajya Sabha, said the 2014 polls would be all about governance issues in all states except Andhra Pradesh where the decision to create a separate Telangana would rule over any other issue.
(With IANS inputs)