One can buy a modern bolt-action rifle to handle ANY modern ammunition, from .22 long rifle up to .50 caliber machine gun rounds (Barrett).
Yes, and yes.
David Marshall "Carbine" Williams developed his prototype for the M1 carbine using hand tools -- mainly a file -- and scrap steel. There are Pakistanis who produce Enfield and Kalashnikov rifles today, using the same techniques.
Some of the finest bolt-action hunting rifles made today are built around the M98 Mauser action. Military Mausers using this action are available on the wholesale market right now for under $100, in original military trim. M98 indicates the year 1898, the year in which Peter Paul Mauser perfected the design.