The separatist outfit also claimed that there was no connection between the Kashmir "issue" and the ongoing polls in the state.
"The statement of Jaitley is far from reality and historic and political perspective of the disputed nature of the state. There is no relation between the issue of Kashmir and the so called elections," Hurriyat said in a statement here.
Hurriyat said the elections are meant for addressing administrative issues.
The outfit also claimed that public agitations of 2008 and 2010 should serve as an eye-opener for those thinking that by taking part in the electoral exercise people have shunned their "legitimate struggle".
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It also asked people to observe a complete strike on December 8 against Prime Minister Narendra Modi's visit.
Meanwhile, Jammu and Kashmir High Court Bar Association (JKHCBA) also reacted strongly to the statement of Jaitley and said the Union minister is unaware of the Kashmir issue.
The Bar while inviting the Union minister for a debate, said Jaitley must also know that Kashmir has a historical perspective and no statement can, therefore, be made by anyone, in defiance of that historical perspective.
"The Bar Association hopes that Jaitley will accept the invitation and agree to a debate with the Bar Association on Kashmir issue on any date convenient to him," it said.